Family Protection from Horbury Financial Services Limited

Family Protection

Family Protection

It’s easy to think you’ve got everything covered, but would your family be able to cope financially if you had to stop working if you died or suffered a major illness? Even if you don’t work and have no income to lose, imagine the cost of having to employ someone to carry out the tasks that you do every day. Starting a protection plan is a precaution you can take to cover your self for that unforeseen situation.

Life cover will provide a tax-free cash sum should you die and sometimes provide cover if you develop a terminal illness. Term assurance pays a tax-free cash sum on death within a specified period. The sum can be fixed at the start of the policy although some policies allow increases. Family income benefit pays a tax-free regular income for a specified period. It is often used to protect a growing family until the children become self-sufficient. Mortgage protection is a form of term assurance designed to pay off your mortgage in the event of death, protecting the family home for your dependants. Whole of Life assurance can be used for long term family protection and can sometimes be used in Inheritance Tax Planning.

Critical illness cover will provide a tax-free cash sum if you suffer a defined critical illness or defined disability during the cover term.

Life and earlier critical illness cover plans include both life cover and critical illness cover. They pay out a tax-free cash sum if you die, suffer a defined critical illness and sometimes if you have a terminal illness during the cover term.

Most of these plans can be taken out either on a single or joint life basis. Many can also be put into trust, thus ensuring that the funds go directly to your chosen beneficiaries on your death.

Please contact us to discuss your individual requirements from the many types of protection products that are available to you and your family.