Personal & Business Insurance

Personal Insurance

Insurance can protect you from a wide range of situations that might arise at some point in your life. You will often pay a simple monthly premium to get yourself a form of cover, whether it be for Home Insurance, Car Insurance or Personal Insurance.

Many Adverts on TV go on and on about Car Insurance or Home Insurance, and it is certainly worth having a look around for an Insurance policy that is good value for money.

More specialist forms of Insurance, such as Income Protection or Health Insurance can offer peace of mind that should you lose your job or become seriously ill, the bills will be paid.

There are plenty of comparison Sites that can compare Insurance policies from the comfort of your own home. However, you can save more money and time by using a Financial Adviser, who is well versed in such areas and can highlight the benefits and features that will be of use to you.

  • Convertible Term
  • Critical Illness
  • Decreasing Term
  • Endowment
  • Family Income Benefit
  • Income Protection
  • Increasing Term
  • Investment Linked
  • Level Term
  • Long Term Care
  • Permanent Health Insurance
  • Private Medical
  • Renewable Term
  • Whole of Life
  • With Profits

Critical Illness

It is important to plan for any eventuality, and by having Critical Illness Insurance, you can rest assured that if you became ill and could not work, your Insurance policy would pay out (typically up to a maximum of 1 year).

If you were diagnosed with conditions such as a heart attack, stroke or cancer, you would receive a lump sum payment that can help to pay bills or cover the costs of medical treatment. There are policies that cover certain illnesses, so be sure to check your Insurance policy before you agree to it.

Talking to a Financial Adviser will help you understand the various types of Insurance and whether it fits your circumstances.

Income Protection

Income Proection is similar to Critical Illness Insurance in that it helps you to pay your bills while you are not working (50-70% of your salary), however, the difference is that Income Protection will pay out for a far longer term. Whether it be until you return to work, retire or pass away.

Long-Term Care

Long-Term Care is a popular topic at the moment, with the government trying to identify how much some one should be expected to pay towards their own care if they need it, and how much should be funded by the state.  Long-Term Care is the provision of services to help people (most likely senior citizens) with chronic illnesses or disabilities who can not look after themselves, or who are in need of assistance with their daily routine, such as washing, dressing and eating.  This type of care can be given at the person’s own home or in a nursing home.

Funding for Long-Term Care is not simple, and there are various ways it can be financed.  This depends on your financial situation and the type of illness. Long-Term Care may be partly or completely funded by the NHS or your local council.  In order to qualify for this, your financial means will be assessed, with your savings, income, pension and value of your property all taken into consideration.

If you do not qualify for state funding, you would currently be expected to finance Long-Term Care entirely by yourself, so it is worth thinking about how you would manage this. Long-Term Care can be paid for out of your assets or income, for example by releasing equity for your home. You can also protect your assets and any inheritance you would like to leave behind, by taking out Long-Term Care insurance. Talking to a Financial Adviser will help you plan ahead and help you choose an Insurance Scheme that will fit your cirmcumstances.

Business Insurance

A successful business is always prepared for the unknown, and one way to do this is to have Insurance that protects yourself, employees and the Business.

A Financial Adviser can discuss the various forms of Insurance that your Business would need, in order to minimise any risks that might arise.

  • Employers Liability
  • General Business Insurance
  • Key Person
  • Pension and Capital
  • Professional Indemnity
  • Share Protection

Professional Indemnity

If you or your business provide advice, services and work for customers or handle intellectual property and data it’s advisable to purchase robust professional indemnity insurance.
You and or your business have a duty of care to your customers and clients and a breach of your professional duty, such as making a mistake with the work you carry out for them or providing incorrect advice can result in actions being brought against you or your business.
There are many examples of where things can go wrong and the following highlight same: unintentional breach of confidentiality without your client’s consent; loss or damage of documents and the resultant cost in replacing them; accidentally violating copyrights, trademarks and patents; dishonest, fraudulent or malicious activity; libel and slander by damaging a client’s reputation are just a few.
You may take the view that such instances will never happen to you but the prudent business person will consider and acquire professional indemnity insurance that will, in the event of a legitimate claim, respond and provide defence costs and compensation thus providing comfort whilst carrying on your business.

Employer's Liability Insurance

Most Businesses are required by law to have Employer's Liability Insurance. This will cover you from the costs of legal fees or damages from your employees who have been injured or whose health has been affected during their empoyment with you.

General Business Insurance

Depending on what your Business is, you can tailor your Business Insurance to whatever you require. It could be in the form of basic Contents Insurance, cover for theft of money or fraud.

You can also insure yourself against any legal costs in the event of any tribunals or disputes. The more forms of Business Insurance you have, the higher your monthly premium will be, so it is good to discuss these matters with a Financial Adviser in order to find an Insurance scheme that suits you and your Business.

If you would like to discuss Personal or Business Insurance with a Financial Adviser near you, please click on the button below.

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