Sometimes, the situations we least like to discuss are the ones for which we are better to be well prepared.
No-one enjoys talking about dying, having an accident or the prospect of becoming seriously ill.
What is important is for our loved ones – and the key people in our businesses – to be financially protected if the worst happens.
Assured Life Advisers specialise in providing a highly personalised face-to-face insurance and business protection service to individuals, families, business owners, shareholders and employees.
Nothing in life is guaranteed.
Could your family cope financially if anything happened to you?
If a shareholder or key person died or became seriously ill, how would your business be affected?
Everyone with financial responsibilities is wise to consider what would happen if they died, had an accident or became seriously ill. Who relies on you financially? Are you the main income earner in your family?
Our specialist advisers are qualified and experienced to support you in finding and arranging the best insurance policies for yourself and your business.
For your family:
For your business:
For your employees:
We provide a professional, personalised, face-to-face service, recommending the best insurance and business protection to suit your individual circumstances.
A Financial Adviser is qualified to help you assess the potential impact to your lifestyle, family or business, should you or a loved one, or an employee, suffer from a serious illness or death. You will receive specific recommendations to mitigate against these risks, which will consider any current provisions, including benefits available via an employer as well as state benefits for example. This should provide you with peace of mind that should the worst happen the potential financial impacts have been considered in advance.
You may not be able to afford to cover all your liabilities, so it may be worth discussing with an adviser how you prioritise covering certain liabilities if you can’t afford to cover them all. Also, you might not be able to maintain the cover in the future if premiums increase, you fall ill or lose your job. These considerations and more will be factored in when you receive advice regarding the affordability of your options in the context of your individual needs.
Many advisers offer an initial consultation free of charge. Therefore, the only cost of advice, in many cases, is perhaps an hour of your time. The adviser may be paid by the insurance company should they place your business with them, or they may forgo commission and charge you outright for their advice, regardless of whether you accept the advice. In all cases, the adviser will need to be able to demonstrate that they placed your business impartially, that is, following a review of the market and based on client benefits, as opposed to which insurer pays the most commission – which is strictly forbidden.
Life insurance comes in different shapes and sizes. For example, some policies pay out a lump sum – that’s one payment, which is typically much larger in size than a policy that pays out regularly, for example monthly. There are policies that will pay out a fixed amount of money should a qualifying event happen during the policy’s term, as opposed to a policy that pays out a reducing amount over the policy term, in line with a decreasing mortgage for example. The shape and size of such policies can vary greatly so identifying which is most appropriate to cover specific liabilities can be complicated. A Financial Adviser from Assured Life Advisers will help you assess your options and present you with specific recommendations appropriate to your needs.
Questions regarding your lifestyle and medical history will invariably arise during the application process. These will determine whether further information is required by the insurance company, perhaps from your GP. Once the initial questions have been asked, depending on the answers given, the application may either be accepted by the insurance company straight away or the application may be subjected to further underwriting. Underwriting is the process in which the insurance company assesses the application and may require further information. This is where it can get complicated.
That is, an insurer is going to want to assess the risks associated with providing cover on a policy – be it covering one or more people. The risk of somebody suffering from a critical illness or dying can be assessed on many levels. An insurer will want to know the age of the prospective life assured as well as details about their lifestyle, occupation, whether they’ve suffered from any previous medical conditions or partake in any particularly hazardous pursuits.
They will be interested to know of any potential hereditary conditions the applicant may be susceptible to and may even ask to see an applicant’s medical report from their GP, which is often the case. Given the scope of an underwriter’s potential queries, a Financial Adviser will be able to help you answer these questions appropriately so that there should be very few reasons why a claim would fail later due to ‘non-disclosure’. That is, if a policyholder is later found to have not disclosed, or to have withheld, relevant information at the time of applying for a policy, an insurance company would be well within their right to not pay out on a claim. Not only would this render any previous premium payments a waste of money, perhaps more significantly this could leave a claimant without any right to claim.
Some applicants may find it difficult, if not impossible, to get life insurance if they have certain pre-existing medical conditions or apply for life insurance during a period in which they are currently receiving medical attention.
The difference between what one insurance company covers by way of a serious illness compared to that of another can differ greatly. For example, some insurance companies won’t pay out in the event of an illness until it has progressed to a particular severity, whereas others may pay out partially but earlier on before the illness has progressed further. Some may pay out for something as specific as an Eye Stroke whereas others may not cover this at all. It, therefore, pays to know exactly what is and what isn’t covered – particularly if there’s a history of illness within the applicant’s family.
For some conditions, only at the time of making a claim might you know whether the specific condition is covered and to what extent.
Our highly-qualified Financial Advisers, who specialise in life insurance, are registered with the Financial Conduct Authority.
Assured Life Advisers is the trading name of financial advisers Camargue Chambers LLP – an appointed representative of CAERUS Financial Limited.
CAERUS Financial Limited is wholly owned by Intrinsic Financial Services Limited, the UK’s largest professional support network for over 3,000 financial advisers.
No-one knows what the future may hold. Safeguard your family and business from financial uncertainty with a policy arranged through an Assured Life Adviser.