Protection
Keith Lowden & Associates wants you to have the peace of mind that you and your family are financially well covered whatever the future holds for you. We tailor our protection recommendations to meet your needs today, to provide flexibility in the future by taking into account your age, occupation, health and activities. By working together with you we ensure suitable arrangements are put into place. We can also advise you whether such plans should be put into trust.
Protection needs are not just for individuals, but are used extensively to provide cover for businesses, and we are able to help you in these matters as well. The following brief descriptions of various protection plans are also available for business purposes.
Life Assurance
Life Assurance is a simple and affordable way to protect your family financially from the impact of your death within the term/life of the policy. It will pay out a lump sum upon death and most providers also include Terminal Illness Cover at no extra cost (i.e. if you are diagnosed to have an illness that will result in your death within a year). The lump sum payment is normally free of all taxes.
Mortgage Protection
Mortgage Protection/Mortgage Life Cover is designed to pay off your outstanding mortgage liability if you die within the policy term and again most companies include Terminal Illness Cover at no extra cost.
Critical Illness
These plans provide tax-free cash sum if the individual should suffer from a specified critical illness condition or disability. Such cover may be as a stand alone policy or can also include life cover.
Income Protection/Permanent Health Insurance
The chances of finding yourself out of work due to long-term illness or disability are unfortunately high. The National Statistics for 2007 gave a working population of just over 29 million and according to the DWP (May 2007) over 2.6 million have been claiming State Incapacity Benefit for more than 6 months.
These protection plans pay out a regular monthly income in the event of such disasters whether you are employed or self-employed. We are able to help and advise you on the suitability of such cover as individuals have to bear in mind the extent of such cover is strictly regulated and policies should be reviewed on a regular basis to ensure they provide what is intended.
Other Types of Cover can also be provided such as Private Medical Insurance, details are available upon request or will be recommended after a full fact find has been conducted to ascertain your protection needs.