Risk & protection planning
Protecting your family's financial future is a critical element of a successful financial plan. It can mean the difference between a comfortable life for your loved ones, and living in drastically reduced circumstances.
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Our financial planners will assess how premature death, critical illness, and long-term illness may affect your financial planning goals.
"Get in touch with Askaig Newington to speak to our financial planning team.
Our experienced professionals have a wealth of knowledge and a shared commitment to providing the best possible service to our clients.
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Whether you're looking to secure your retirement, grow your wealth, or navigate a complex financial situation, we're here to provide personalised advice."
What is financial protection?
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Financial protection refers to a range of insurance products which cover the life or health of the policyholder.
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Life assurance pays out if the policyholder dies during the term of the policy.
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Critical illness pays out if the policyholder suffers from a very serious illness.
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An income protection policy pays out if the policyholder is unable to work due to prolonged ill health.
Why might I need protection?
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Most families would struggle financially if a family member died or developed a serious illness. This is particularly true for working-age individuals, where the financial impact is likely to be much greater.
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That's why it's so important to ensure you have the right level of insurance in place.
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The most common reasons for setting up financial protection are:
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To pay off your mortgage, allowing your loved ones to continue to live in the family home.
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For your family to maintain their standard of living if you died or were unable to work for a long period.
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To cover the cost of the future inheritance tax liability that will fall on your estate after your death.
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Book a meeting with a financial planner
Our initial meeting comes at no cost – it’s an opportunity for us to get to know each other and allows us to gain an insight into your current situation, goals, and objectives.
Our friendly financial planning team bring a wealth of experience and expertise. All our discussions are confidential, and you will never be asked to commit or sign up during our first meeting.
How to get in touch
6 Wrotham Business Park
Barnet
EN5 4SZ
How much insurance do I need?
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The level of protection you need will depend on your personal circumstances, but in our experience most individuals and families are significantly under-insured.
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Although it may be uncomfortable, it's extremely important to consider what may happen to your family if the worst should happen:
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Could your family continue to pay the mortgage if you died tomorrow?
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What would happen to their standard of living if you died and your income suddenly stopped?
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How would your long-term finances look if you were unable to work for a prolonged period?
All information It is based upon our current understanding of current legislation and HMRC guidance. While we believe this interpretation to be correct, it cannot be guaranteed that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Thresholds, percentage rates and tax legislation may change in Finance Acts and bases of, and reliefs from, taxation are subject to change and their value depends on an individual’s personal circumstances.
Life Assurance plans typically have no cash in value at any time and cover will cease at the end of term. If premiums stop, then cover will lapse. You should review the level of cover required on a regular basis to ensure that it keeps in line with your earnings, otherwise, cover may be less than you need. If any relevant information provided, when applying, is not disclosed accurately and honestly, this could result in any cover offered becoming invalid and / or may result in the non-payment of any future claims.