Insurance Protection Aberdeen | Insurance Protection Advice Aberdeen

Life cover

The main reasons for having life cover are to provide financial security for your dependants, to pay off your mortgage in the event of death, to pay of other debts, or to provide funds for funeral expenses.

Life Cover for Businesses

Businesses may require Partnership Protection, Key Man Protection, or Shareholder Protection. In the event of the death of a partner, key person, or major shareholder, businesses may struggle to find the capital to pay out what is due, and still continue trading. Surviving partners can be left in a difficult position, should the unforeseen happen.

Critical Illness Cover

This type of cover pays out a lump sum cash payment if the policyholder is diagnosed with one of the specified illnesses listed in the insurance policy. It is typically used to pay off your mortgage or other debts in the event of a specified life threatening illness. It can also be used to provide an additional lump sum during a period of convalescence, or to lessen the financial impact on dependants during a period of serious ill health. Serious Illness cover is now also available. It provides cover against a MUCH wider range of illnesses, and can pay out a smaller amount, based on the severity of the illness, when a traditional plan might not pay out.

Critical Illness cover for businesses

The idea is to provide funds to help a business if a partner or key employee cannot work or has to retire as a result of a specified critical illness. Benefits can be paid to individuals as a tax free lump sum, or an income. The quality and scope of cover can vary between companies. We can help you decide on the right level, quality, and scope of cover, see that it is set up properly, and highlight differences in the cover provided by different companies. We will also ensure that you get value for money, and try to place even difficult cases.

Income Protection

This type of cover pays out a regular income if the policyholder is diagnosed as being unable to work through ill health or incapacity.  Cover can be based on the policyholder’s inability to perform the major tasks of their own occupation, or may be based on their inability to perform any occupation. Arguably, this is the most important cover of all. Normally the limit is 50% to 65% of pre-disability income, and benefits can be level or indexed. Benefits can be paid after 4, 13, 26, or 52 weeks following the start of a period of disability, and would usually continue until the policyholder has recovered, returned to work, died, or the end of the policy term, whichever occurred first. There are also lower cost versions, which have a limited benefit payment period. For individuals, income is tax free. It is a permanent style of cover that once arranged, insurers cannot withdraw during the policy term. Cover is for a set term, defined at the outset, unlike temporary sickness and accident cover, which is usually renewable annually, and may not be offered again by the insurer if there have been claims on the policy. Income Protection is often arranged to protect mortgage payments, and to correspond with a mortgage term, or it can typically be set up to protect income to age 60, or 65

Income Protection for businesses

It provides income to pay a key employee if they are off work long term through ill health, and eases the financial strain of having to pay someone else to stand in. Cover can be for a few years or can be set up to retirement. Benefits received by the businesses are treated as taxable income. Income paid out to employees by the businesses is tax deductible, as are the contributions to pay for cover.

The value of Advice

We will ensure you have proper advice, and that value for money is obtained.

Unemployment, & Sickness & Accident Cover

Unemployment cover, sickness & accident cover, or a combination of both is available. Unemployment cover is designed to provide an income to pay your mortgage and associated bills if you are made involuntarily redundant. It is a temporary cover that can also be combined with sickness & accident cover. Sickness & accident cover is designed to provide income, as above, if you are unable to work through sickness or accident. An extra 25% cover, over and above the amount needed to pay your mortgage and associated bills, is usually available. Benefits are tax free, and can be paid after 30, 60, or 180 days. Alternatively cover from day one can be arranged. This is a temporary cover, and benefits are normally paid for a maximum of 12 to 24 months. We can help you find good quality cover at a competitive price. We can also advise on how this type of cover can economically be combined with more permanent cover.

Private Medical Insurance

Some employers provide this benefit to employees to hasten recovery from illness through private medical treatment. For those without cover through work, private cover may be arranged on an individual basis, or for the whole family. The NHS has come under increasing strain in recent years, and many people now feel that it is worth having the alternative of private medical insurance. It is designed to pay the cost of medical treatment, and cover can be tailored to suit your needs. The cost will vary depending on age, location, and previous medical history etc. We can help you to find the most suitable cover at a competitive price.

Home Insurance

Not all home insurance is the same. Cost can vary, as can the quality and scope of cover.We can provide quotes from good quality insurers, help tailor the cover to your precise requirements, and highlight important aspects of the cover.

For insurance protection we offer products from a wide range of providers


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