The Importance of Protection

We all hope to live a long and healthy life, but have you stopped to think what if everything did not go to plan?

According to research from Unbiased.co.uk, 30% of UK adults are uninsured in some of the most important aspects of their lives that include income protection, life insurance and critical illness.

The recent case of Fabrice Muamba, a young and fit footballer who collapsed during a match, demonstrates our vulnerability. 

What if you became too ill to work or died?

Who would support your family? Who would pay the school fees and/or help your children through university? Who would pay the mortgage?

If you do not have a family or a mortgage, who would pay the bills and basic living expenses if you could not work?

There are a number of different policies that can help in these situations.

An Income Protection (IP) policy is used to replace earnings lost if you are unable to work because of long-term illness or injury.

A Critical Illness Cover (CIC) policy pays out a lump sum you are diagnosed as having one of the specified critical illnesses.

Instead of a policy that pays out a lump sum on your death, it is possible to have a policy that will pay out a tax-free income over a specific term. Premiums for this type of policy can be very cost effective.

A Whole of Life (WOL) policy will pay out a lump sum to your dependents following your death. This could potentially help pay some or all of an inheritance tax bill.

At Ward Williams Financial Services, we can help you to find the right type and level of protection suitable to your circumstances in order to give you and your family peace of mind.

Please call us on 01932 830664 to find out more or to book an appointment with one of our highly qualified financial planners.