Protecting your family with insurance

Insurance helps you and your family cope when the unexpected happens. Just as you insure your home and contents so you should consider insuring yourself and your health against unforeseen disasters. Whether you are looking to clear a mortgage debt in the event of your premature death, pay a lump sum to you if you are diagnosed with a critical illness or provide financial security for a family, insurance can provide a safety net for you and your loved ones. You will have different needs throughout the different stages of your life so even if you have existing cover in place you need to update this as key events happen throughout your life or you risk being seriously under-insured.

There are many different types of cover and getting the right mix of cost and benefit is essential. Therefore obtaining the right advice and knowing which products to choose is very important. Whilst price is obviously important, sometimes it is worth paying that little bit more to ensure that you have the most comprehensive plan that you need with a reputable company that has a good claims history.

Your premium will vary according to how much of a risk you are to an insurance company. Factors such as age, health, occupation, lifestyle including pastimes, smoking etc will impact on the cost. Policy details such as how much you wish to cover yourself for (known as the sum assured) and the number of years the cover is to last, will also influence the eventual cost.

Not all insurance is taxed in the same way. It is important to speak with an expert advisor who can design a package that minimizes the eventual tax on any benefit. The effective use of trusts can reduce the impact of inheritance tax and can often speed up payment of a claim. This is particularly important if a percentage of the family’s assets have been frozen pending probate. It is this kind of knowledge that sets a good advisor apart and as we are independent, we can research the whole of the market for you to find the most suitable product for your individual circumstances.

Here are some typical situations when you should consider buying insurance for yourself and your family

Buying a home, getting married or entering a civil partnership, planning a family, changing your job, salary rise, having more children

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Please remember that the value of your investment can go down as well as up and you may get back less than you have invested. The Financial Conduct Authority does not regulate taxation advice. Equity release: This is a Lifetime Mortgage. To understand the features and risks, please ask for a personalised illustration. There may be a fee for equity release advice. The precise amount of the fee will depend upon your circumstances.

Executive Advisory Services Ltd
67 Lower Road . Cookham . Maidenhead . Berkshire . SL6 9HF
Telephone: +44 (0)1628 532320 . Click here to email us