Life Insurance

Life Assurance

Who is going to fill your shoes? 

Life Insurance Edinburgh

 Wealth and personal protection is essential to secure the future for both you and your family if an unexpected life event happens.
Financial protection is a large, and in some ways the most important, area of advice. We have specific expertise on the following areas:
  • Life Insurance
  • Critical / Serious Illness Insurance
  • Income Protection
We also provide corporate advice which may involve introduction to some further areas:

  • Relevant Life plans – one-man Death in Service arrangement. These are very tax efficient for owners of their own limited company
  • Keyman Insurances – this ensures a payment is made to the business to support the firm during periods of financial loss due to the permanent or temporary absence of key individuals
  • Executive Income Protection plans – this is a specialist product to provide income to a business in the event of a key executive or business owner being unable to work due to ill health or accident. The plan can often cover more than standard personal arrangement and also cover additional benefits such as pension contributions.
Life Insurance - Who Needs It?

Life Insurance cover offers either a lump sum or an income on the unforeseen death of an individual. Anybody whose death would produce a financial loss to another has a need for life insurance coverage.

This could/should consist of the following: -
  • Parties to a Mortgage or a loan (mortgage life insurance coverage).
  • Anyone with dependents (whilst a mum and dad may not work, undoubtedly there would be a financial loss if anything were to happen whilst there are young children to consider).
  • Key Individuals. Where a company would suffer financial loss on the death of an essential employee.

In essence any circumstance where monetary loss would be incurred can have a requirement for life insurance cover.

640,000 individuals in the UK will die this year * * source: Office National Statistics, 2012.

What Kind of Cover?

Term Life Insurance.
It is essential to obtain the most competitive term life insurance quote for the cover supplied. It is possible to take out term life insurance coverage that will pay level lump sums, decreasing amounts (mortgage life insurance coverage cover) or provide regular payments (income).

Whole of Life.
As the name suggests, this type of policy will provide cover through a person's lifetime. When obtaining a whole of life insurance quote, as well as the cost of premium, there are other elements to be thought about; investment performance, charges, strength of the company.

There are good arguments for both kinds of policy. We would recommend that the following could make up the primary factors to consider: 
  • Expense - Whole of Life insurance coverage, as a guideline, is normally the more costly kind of cover.
  • Period that cover is needed - If cover is required for a specific duration i.e. a Mortgage then Term cover might be better suited.
  • Future Plans - If, for instance, a family is planned, then whole of life can offer the flexibility to increase cover for this or other events.

Note.
Critical Illness( CI) now provides a similarly essential advantage and we would strongly advise that you view the CI Factsheet.

Conclusion.
This factsheet is meant merely as a rough guide to the choices and needs surrounding Life Assurance. All consultants are Regulated and Authorised by the Financial Conduct Authority (FCA) and are now bound to explain their status to you (either independent and fee charging, independent but paid by commission only, or tied).

Whole of Life.

As the name suggests, this type of policy will provide cover through a person's lifetime. When obtaining a whole of life insurance quote, as well as the cost of premium, there are other elements to be thought about; investment performance, charges, strength of the company.


There are good arguments for both kinds of policy. We would recommend that the following could make up the primary factors to consider: 

  • Expense - Whole of Life insurance coverage, as a guideline, is normally the more costly kind of cover.
  • Period that cover is needed - If cover is required for a specific duration i.e. a Mortgage then Term cover might be better suited.
  • Future Plans - If, for instance, a family is planned, then whole of life can offer the flexibility to increase cover for this or other events.


Note.

Critical Illness( CI) now provides a similarly essential advantage and we would strongly advise that you view the CI Factsheet.


Conclusion.

This factsheet is meant merely as a rough guide to the choices and needs surrounding Life Assurance. All consultants are Regulated and Authorised by the Financial Conduct Authority (FCA) and are now bound to explain their status to you (either independent and fee charging, independent but paid by commission .

Why choose Executive Wealth Services?

If you're reading this it's likely you're thinking about making a big decision. Who can you trust to help decide how and when and where to invest your money? By understanding you, your needs and wants are all unique to you, we are confident of meeting and exceeding your expectations. Executive Wealth Services have a combined experience of over 75 years assisting clients and each member has built a strong reputation for client satisfaction. As we work together, you will realise we don’t just provide advice. Each of your options will be thoroughly explained, mindful of any tax implications and your preferred level of risk. 

Our service is entirely tailored for your circumstances and we will always advise in your best interests.

Contact our Protection Advisers Edinburgh

We are Independent Financial Advisers, but most likely better described as Chartered Financial Planners. We do more than simply provide advice, we assist you to plan for a protected Financial future whether you are simply beginning your working life, marrying, beginning a family, actively saving for or at (and beyond) retirement. Your Financial requirements and goals change as you go through life and we want to be with you each step of the way.

Call us now on 0131 564 1222 or fill out an online query and a member of our team will get right back to you. We'd love to hear from you as you prepare your future.
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