Protection for You and Your Family

Many employers now provide comprehensive benefits that pay out in the event of death, disability or ill-health. It’s wise to check that the benefits are enough to cover your family’s needs – if it’s not enough, you can top up with personal policies. It is also important to bear in mind that if you stop working for that employer, perhaps through ill-health, you may lose benefits and may not be able to replace them at that time.

Policies that you may wish to consider include life insurance, critical illness cover and income protection.

Life Cover

Not everyone needs life insurance, but if your children, partner or other relatives depend on your income to cover the mortgage or other living expenses, then you probably do.

Life insurance needs will change so you should regularly review your policy to make sure your premiums are still competitive and that you still have the right amount of cover.

We would be delighted to review your current arrangements and discuss your life cover requirements. Whatever the nature of the review, as a Chartered and Independent Financial Adviser, you can be assured that we will provide a solution that is based entirely on your needs.

Critical Illness Cover

Life insurance covers the worst-case scenario, but it’s also important to consider how you might pay your bills or your mortgage if you couldn’t work because of illness or injury.

You may wish to buy critical illness cover to pay off all or part of your mortgage, easing the financial burden on diagnosis of a life changing medical condition such as cancer or a stroke. You may also want to cover the cost of modifications to your home such as wheelchair access or a stair lift. You should also consider how you would replace your income if you could not work.

How much cover you need depends on your financial circumstances and how much you can afford. As a Chartered Financial Adviser, you can be assured that we will discuss all of your options with you and provide a solution that is based entirely on your needs.

Income Protection

It doesn’t matter whether or not you have children or other dependants if illness would mean you would struggle to meet your financial commitments, you should consider income protection insurance.

You’re most likely to need it if you’re self-employed or employed and you don’t have sick pay to fall back on. If you are employed, you should ensure that you understand how much your employer will pay you if you are sick, and for how long.

It is important to set your premiums at a level you can afford to balance your current budget against the peace of mind that having income protection cover gives. As a Chartered Financial Adviser, you can be assured that we will discuss all of your options with you and provide a solution that is based entirely on your needs.

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    Established in 1972, Thomas Carroll is a multi discipline risk consultancy covering business and personal insurance, financial services, health, safety and employment law.
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