Protection

Protecting your family

Have you considered what will happen if you were to be unable to work due to an accident, illness or disability? What would happen if you were to die prematurely?
Would there be sufficient income for your family to stay in their home? How would you pay for medical bills? How would you pay for alterations to your home if these were necessary for medical reasons?

These may not be issues that you like to think about but it is important to consider these matters now, rather than later.

Marquis Financial Planning can advise you on a number of measures to protect your family against such eventualities.  Critical illness cover will pay out a lump sum following diagnosis of a qualifying serious illness and life insurance will pay out a lump sum in the event of your death. Both types of cover are recommended to help protect you, your family and your property.

Life insurance

If you were to die prematurely have you considered how this would affect your family financially? Would they be able to continue in their current lifestyle? Would they be able to keep up with mortgage repayments in order to stay on in the family home? Would they be able to keep up repayments on existing debts? Would there be sufficient money for general expenses such as food, utility bills, and clothing? Would there be money for holidays, treats, days out, transport? Would it be possible to keep the family car?

If you have dependents these are all issues that you need to consider. Losing a loved one is traumatic enough, without added financial concerns.

It is highly recommended that you take out a life insurance policy. Marquis Financial Planning can advise you on the policies available so that you can choose the right one for your needs. Then in the event of your death, you can rest assured that a lump sum will be paid to your loved ones which can be used to cover any expenses they need.

Critical illness

If you were to be diagnosed with a serious, life-threatening illness such as cancer or heart disease this would obviously be devastating news for you and your family but have you considered how you would manage financially?

If you did not have an income coming in, how would you pay your mortgage and other debts? How would you manage for day to day living expenses? What would happen if you had to adapt your house for medical reasons or move house altogether?

With critical illness cover a lump sum is paid to you a specified period after you are diagnosed with a serious qualifying illness (Full terms and Conditions are available on request). This money can then be used for anything you wish such as debt repayment, general living expenses and medical bills. It means that the financial burden is taken away from you so that you can concentrate on more important matters such as getting well.

Remember that critical illness cover is cheaper when you are fit and healthy and that it is highly unlikely that you would be able to get cover if you begin showing signs of a serious illness. Marquis Financial Planning is happy to advise you on your options and the cost of this insurance, which may be cheaper than you think.