Insurance

It is vitally important when taking out any insurance that you ensure you obtain both the most suitable type of policy and the correct level of cover for your requirements, and this is how we can help.

We advise on all forms of life and critical illness cover together with insurance that would help replace an income should you be unable to work.

Life Assurance is used primarily to provide money for those who may be financially dependent on you, such as family and business partners, should anything happen to you.

Even if there are no dependents who may be financially distressed by your death, life insurance could go towards covering funeral costs.

The following are all situations that may require the use of life assurance.

• Mortgage - If the house is to be lived in by your partner or children then it is normal practice to ensure that the mortgage is cleared on death where possible or appropriate
• Money for dependants - If you have financially dependent children then money will help provide for them, perhaps by allowing the surviving partner to stay at home or work part time for some years
• Business debts - Banks and creditors are cautious when key business professionals are no longer around. Credit lines get shortened or even pulled, often with fatal consequences for the business. If you are a key person your business could insure you to provide cash flow to settle all debts and recruit a new person
• Business partners and co-directors - If you die you hope that your colleagues will pay a fair value for your share of the business, but they can only do this if the funds are available. Assurance could be used to provide this.