PERSONAL PROTECTION

With the help of one of our advisers here at Varsity Finance, we can provide you a full gap analysis of any current Life Insurance and protection that you may have in place and discuss any further needs or changes you would like to make.
Whether it be to cover a mortgage debt, replace an income, leaving a legacy right through to Inheritance planning there is a plan to meet the need.

What products are available and how can they help me?

 

Life Insurance Is a policy that can help minimise the financial impact that your death could have on your loved ones. If you die or if you’re diagnosed with a terminal illness with a life expectancy of less than 12 months, during the length of the policy, It could pay out a cash lump sum. Life Insurance can help give you peace of mind that your family’s way of life Is protected should the worst happen.
These polices can be held in joint or single names and you can pay your premiums monthly or annually dependant on your preference, they can also be placed intrust so that It bypasses your estate and so will not be Included In any Inheritance tax calculations.

Decreasing Life Insurance Is designed to cover a debt you are repaying over a defined time period often called mortgage protection. This type of policy should decrease in cover In line with your mortgage so that it would be able to repay the remaining debt.

 

Critical Illness Cover Is designed to pay out If you were diagnosed with or undergo a medical procedure for one of the specified Critical Illnesses that Is covered by the chosen provider during the length of your policy and you survive for 14 days from diagnosis, Life Insurance can be Included as part of the same policy.

 

Family Income Benefit (FIB)Insurance Is a way of securing a regular payment to replace any lost incomefor your family Ifyou die and/or suffer a Critical Illness within the term depending on the policy that Is taken out. The cost of raising a family can be vast so even if the mortgage and debts were paid off an Income would still be required to pay the normal cost of living as well as leave them without ongoing money concerns.

 

Whole Of Life Insurance Is a policy designed to last your lifetime as It will pay out a lump sum on death and leave a legacy or could be used to cover any Inheritance tax liability on your estate as It could be put In trust to avoid increasing the value of your estate thus Inadvertently increasing your estate by default.

 

Income Protection also known as Permanent Health Insurance policies (PHI), and Accident, Sickness and Unemployment policies (ASU) are both designed to replace a person’s Income should they become Incapacitated and therefore be unable to work. There are several differences between the two plans, which should be noted.

 

Permanent Health Insurance (PHI) or Income Replacement policies are designed to provide the policyholder with a replacement Income In the event of a long-term sickness or disability. Payments are usually made when the policyholder cannot undertake their own job due to Illness or Injury.

 

Accident, Sickness and Unemployment (ASU) policies will also protect a person’s Income against Illness or Injury. However, the main point of difference Is that It will also protect a person’s Income if they were made redundant by their employer. Some ASU policies will also allow you to choose whether you want to receive benefits for accident and sickness only, unemployment only or all three.

With the help of one of our advisers here at Varsity Finance, we can provide you a full gap analysis of any current Life Insurance and protection that you may have in place and discuss any further needs or changes you would like to make.
Whether it be to cover a mortgage debt, replace an income, leaving a legacy right through to Inheritance planning there is a plan to meet the need.

 

What products are available and how can they help me?

 

Life Insurance Is a policy that can help minimise the financial impact that your death could have on your loved ones. If you die or if you’re diagnosed with a terminal illness with a life expectancy of less than 12 months, during the length of the policy, It could pay out a cash lump sum. Life Insurance can help give you peace of mind that your family’s way of life Is protected should the worst happen.
These polices can be held in joint or single names and you can pay your premiums monthly or annually dependant on your preference, they can also be placed intrust so that It bypasses your estate and so will not be Included In any Inheritance tax calculations.

 

Decreasing Life Insurance Is designed to cover a debt you are repaying over a defined time period often called mortgage protection. This type of policy should decrease in cover In line with your mortgage so that it would be able to repay the remaining debt.

 

Critical Illness Cover Is designed to pay out If you were diagnosed with or undergo a medical procedure for one of the specified Critical Illnesses that Is covered by the chosen provider during the length of your policy and you survive for 14 days from diagnosis, Life Insurance can be Included as part of the same policy.

 

Family Income Benefit (FIB)Insurance Is a way of securing a regular payment to replace any lost incomefor your family Ifyou die and/or suffer a Critical Illness within the term depending on the policy that Is taken out. The cost of raising a family can be vast so even if the mortgage and debts were paid off an Income would still be required to pay the normal cost of living as well as leave them without ongoing money concerns.

 

Whole Of Life Insurance Is a policy designed to last your lifetime as It will pay out a lump sum on death and leave a legacy or could be used to cover any Inheritance tax liability on your estate as It could be put In trust to avoid increasing the value of your estate thus Inadvertently increasing your estate by default.

 

Income Protection also known as Permanent Health Insurance policies (PHI), and Accident, Sickness and Unemployment policies (ASU) are both designed to replace a person’s Income should they become Incapacitated and therefore be unable to work. There are several differences between the two plans, which should be noted.

 

Permanent Health Insurance (PHI) or Income Replacement policies are designed to provide the policyholder with a replacement Income In the event of a long-term sickness or disability. Payments are usually made when the policyholder cannot undertake their own job due to Illness or Injury.

 

Accident, Sickness and Unemployment (ASU) policies will also protect a person’s Income against Illness or Injury. However, the main point of difference Is that It will also protect a person’s Income if they were made redundant by their employer. Some ASU policies will also allow you to choose whether you want to receive benefits for accident and sickness only, unemployment only or all three.