Asquith Hart, where we take a fresh approach to designing workable and worthwhile solutions for your wealth.
Be prepared for the unexpected. Although nobody wants to contemplate the possibility of death or critical or long-term illness, it is an important issue to consider when getting your finances in order. As your journey through life progresses you will tend to take on more and more responsibilities, whether in your family circumstances or in business. Having others depend on you can be an enriching, fulfilling experience but also one which demands that you prepare as best you can for the unknown.
The insurance marketplace is massive, with a dizzying array of products. At Asquith Hart we can help you find the right fit for your specific circumstances. Typically, you will be wise to consider:
- Life Assurance. This gives you the peace of mind that after your death your loved ones would receive a lump sum to cover issues such as outstanding debts and the difficult transition period, and maintain their established standard of living. Cover varies according to the regular amounts committed, and it is crucial to work out the optimum balance. Particular types of Life Assurance include:
- Level Term Assurance. You choose the value of cover required and the length of the policy, and the premiums are calculated on that basis. If you die before you have finished paying in, the policy will still pay out the agreed figure.
- Whole of Life Assurance. This guarantees that your dependants will receive a lump sum upon your death at any point after the policy is signed, and is therefore a more costly service. The performance of premiums invested will dictate the projected cover.
- Critical illness cover. This offers protection in the event of critical or terminal illness that prevents you from working, and may be included within Life assurance. Not only a safeguard against loss of earnings, it can contribute to care and treatment costs and disability or mobility aids.
- Family protection. This is a practical means of helping families cope with the devastating loss of a loved one, covering such expenses as funeral costs and ensuring a regular income after the demise of a breadwinner.
- Private health insurance. Unless this is provided by your employer, it is worth considering the benefits of taking out private health insurance, ensuring that you receive ongoing income quickly should the need arise and you are unable to work for a period of time.
At Asquith Hart, we can help you steer a path through the vital but tricky territory of insurance. If the right measures are in place, it makes for one less thing to be worried about in already stressful situations.
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N.B. Protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse. Cover is subject to terms and condition and may have exclusions.
