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Life & Health Insurance Advice in Surrey

Life and health insurance is all about protecting your lifestyle against those un-foreseen events in life that can lead to financial difficulty.

Life insurance is often taken out with mortgages to protect against survivors being burdened with large debts. Although this is a very important consideration, there are numerous other circumstances when life insurance may be required that often get over looked. For example, if you have young children and your partner dies, would you give up your job to look after them or pay for child care? A life insurance policy may be able to provide an annual income to cover these costs until the children reach 18 or 21.

Health insurance is slightly different to life insurance in that it pays the benefits whilst you are still alive. Policies can be set up to protect your income, certain expenses or provide a lump sum payment in the event of suffering a serious illness (critical illness cover). For example, imagine that you are setting aside a decent sum of money each month to eventually provide an income in your retirement. Now imagine your suffer a serious illness that results in you having to take a lower paid job where you can not afford to save this sum of money each month. The savings plan could be protected in this instance so that you can still save for the future and have the retirement you had planned to have. However, without this insurance it is likely that you will not have the retirement you were after or may have to work longer.

Through our lifestyle financial planning process we will raise these issues where we think there is a need for protection. We can then have an open discussion about the types of scenario that may happen and what cover the protection policies can offer. Of course, we hope the scenarios will never happen, but these policies are designed to protect against the unexpected.