At Bespoke, we strongly believe in looking on the bright side of life, but it’s a fact that nobody knows what is around the corner. Our expert team will empower you to put in place an effective protection planning strategy to preserve and protect your wealth for you and future generations. We understand that peace of mind for the future is essential. You’ve worked hard to build and grow your wealth, it is only natural to put in place measures to protect it. But unforeseen life events and circumstances can potentially impact your finances in a number of ways. That is why Bespoke’s holistic approach to personal finance combines Retirement Planning, Pensions, Estate Planning and Investments and Savings to create a successful outcome for our clients.
We insure our cars, homes and even our mobile phones – so it goes without saying that we should also be insured for our full replacement value to ensure our loved ones are financially catered for in the event of our premature death. Life insurance helps you to financially protect your family. It could pay out a cash sum if you die while covered by the policy. You choose the amount of life cover you need and how long you need it for, and you can pay your premiums monthly or annually. Life insurance provides a safety net for your family and loved ones if you die, helping them cope financially during an otherwise difficult time. Ultimately, it offers reassurance that your family would be protected financially should the worst happen.
When it comes to life insurance, you’ve got options
‘Single life’ policies cover just one person. A ‘joint life’ policy covers two people, and when one person on the policy dies, the money is paid out and the policy ends. You will need to decide whether the joint policy pays out on first or second death, as this will determine when the policy ends. When choosing between these options, think about:
- Affordability – a joint life policy is usually more affordable than two separate single policies
- Cover needs – do you both have the same life insurance needs, or would separate policies with different levels of cover be more appropriate
- Work benefits – if one of you has work ‘death-in-service’ benefit, you might only need one plan in place – if your joint policy is with someone in poor health, this may increase your monthly payments
Income Protection Insurance
Being unable to work can quickly turn your world upside down. No one likes to think that something bad will happen to them, but if you couldn’t work due to a serious illness, how would you manage financially? Could you survive on savings or sick pay from work? If not, you may need some other way to keep paying the bills – and you might want to consider income protection insurance. You might think this may not happen to you, and of course, we hope it doesn’t, but it’s important to recognise that no one is immune to the risk of illness and accidents. No one can guarantee that they will not be the victim of an unfortunate accident or be diagnosed with a serious illness. This won’t stop the bills arriving or the mortgage payments from being deducted from your bank account, so going without income protection insurance could be tempting fate.
Income protection insurance is a long-term insurance policy that provides a monthly payment if you can’t work because you’re ill or injured, and typically pays out until you can start working again, or until you retire, die or the end of the policy term – whichever is sooner.
Private Medical Insurance
Nothing is more important to you than your health and the health of your family. If you or your loved ones were to experience worrying symptoms, private medical insurance can offer reassurance and control at a difficult time. Private medical insurance (often referred to as health insurance) gives you access to private healthcare for conditions that develop after your policy has started. One of the main benefits of private medical insurance is the speed of access to medical treatment. You will pay a monthly premium which covers all or some of the costs for your treatment and you will be covered for conditions which can be cured that begin after joining.
Key Benefits of the Service
There are many types of protections, and factors to consider for each and every one of them. Our expert team will guide through the process and establish the best type of protection for your needs and financial goals.
- We help you safeguard your wealth today and for the future
- We create a protections strategy to support your needs and goals
- We review your existing policies to always deliver the best deals