Creative Financial

Family Protection

Whilst we all consider insuring our cars, homes, belongings, holiday travel and pets we often don’t think about the impact on our finances if something serious happens to one of us. The loss or serious illness of a close family member in emotional terms is enough for most people to cope with but it can also cause a great deal of financial stress and worry for all of the remaining family. This risk can be transferred; you can insure your family finances against death, serious illness and disability, repay debts and pay tax liabilities.

Our advisers will assess your situation and recommend appropriate insurance that suits your financial needs and they will do this in the most cost effective way to suit your budget. Being independent means we can consider the whole market and not just those found on search engine comparison sites.

Financial products are sometimes at their most useful when they are protecting our families, our incomes or our property.

Whilst we all hope such insurance policies are ones we hope to never claim on, the reality and risk is, for example.

Mr and Mrs Common, both 40, non-smokers.

For every couple like the Commons, 61% will suffer one of the following.

Before one of them reaches 65.

Click here for an indication of the chance of one of the above happening to you.

Types of Protection available

Term Assurance

Term Assurance.

You only get a pay-out within the 'term' of your policy. The payout you get is fixed from the start of the term until the end. Level term assurance then guarantees a known lump sum pay-out upon death within a fixed time.

Family Income Assurance

Family Income Benefit.

These policies are intended to meet the needs of parents with (or planning to have) children to offer protection in the event of their death(s). They provide for an income payable from the date of death until a fixed time in the future (e.g. the youngest child's 18th or 21st birthday).

Whole of Life

Whole of Life Assurance.

These are policies that provide life assurance for the whole of your life. Whole of Life insurance guarantees to pay out in the event of death, whenever it occurs, generally as long as the premiums are paid. The premium you pay may also include an investment element which helps to pay for the cost of cover over time.

Critical Illness Cover

Critical Illness Cover.

For many the financial risks of a serious illness or injury are more important (and likely) than death, as it may lead to loss of work, treatment and additional care costs. A critical illness policy will make a lump sum payment on diagnosis of defined “critical” illnesses, serious conditions or injuries. The covered conditions, and level of payment, vary greatly from policy to policy so it is vital to read the terms and conditions of each rather than simply choosing the cheapest.

Income Protection

Income Protection.

Income Protection Insurance is designed to pay a regular tax free monthly income if you are unable to work due to illness or injury, but as defined by the terms of each individual policy.