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Protection Assurance

Protection Assurance

At Haven, we understand that life is unpredictable, and it’s essential to safeguard your financial well-being and that of your loved ones. Our comprehensive Life and Protection Assurance services offer you peace of mind by ensuring that you are prepared for life’s unexpected challenges. Explore our range of protective solutions designed to provide financial security when you need it most.

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Why Seek Help With Investments?

Maintain Your Lifestyle

Our protection policies ensure you can maintain your lifestyle and meet your financial obligations if you become unable to work.

Inheritance Tax Planning

Our solutions can assist in covering future Inheritance Tax bills, allowing you to protect your assets and the family home.

Provide for Loved Ones

We help you provide for those who depend on you if you were to pass away or experience a serious illness, ensuring their financial security.

Shape Your Financial Future

Contact us now to unlock tailored financial strategies and insights that will propel you towards financial freedom.

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Frequently Asked Questions
What is Critical Illness Cover (CIC), and why do I need it?

Critical Illness Cover (CIC) is a policy designed to provide a lump sum payout in the event you are diagnosed with specific critical illnesses or require certain surgeries mentioned in the policy terms. It offers financial support during a challenging time, covering medical expenses and allowing you to maintain your lifestyle without the worry of financial burdens.

How does Income Protection work, and who should consider it?

Income Protection Insurance offers a regular monthly income if you are unable to work due to a severe illness or injury. This coverage is valuable for anyone who relies on their income to meet financial obligations, including individuals, sole breadwinners, and families. It ensures your bills are paid, even when you cannot work, providing financial stability during recovery.

What is Level Term Assurance (LTA), and how does it benefit my loved ones?

Level Term Assurance (LTA) provides a fixed lump sum payout if you pass away during a specified term, such as 15 years. This policy offers financial security to your dependents, ensuring they receive a predetermined sum to cover expenses, debts, and maintain their quality of life in your absence.

How does Mortgage Life Assurance work, and is it necessary if I have a mortgage?

Mortgage Life Assurance is essential if you have a repayment mortgage. It pays off the outstanding mortgage debt if you pass away within a set period. This ensures that your loved ones won’t be burdened with mortgage payments, allowing them to remain in their home without financial strain.

What distinguishes Whole of Life Assurance (WOL) from other policies?

Whole of Life Assurance provides coverage throughout your lifetime and offers a payout whenever you pass away, regardless of when it occurs. It may include an investment element and build a surrender value over time. WOL offers lifelong protection, making it suitable for those seeking extended financial security.

How do I determine which protection policy is right for me?

The choice of a protection policy depends on your individual circumstances, financial goals, and risk tolerance. Our experienced advisors will assess your needs during a consultation and recommend the most suitable options tailored to your unique situation.

Are protection policy payouts subject to taxation?

In the UK, protection policy payouts are typically tax-free. This means the lump sum or regular income your beneficiaries receive from a protection policy is not subject to income tax or capital gains tax.

How often should I review my protection policies?

Regularly reviewing your protection policies is essential to ensure they align with your changing circumstances. We recommend revisiting your policies annually or after significant life events, such as marriage, the birth of a child, or changes in your financial situation.

Can I have multiple protection policies simultaneously?

Yes, you can have multiple protection policies to address various aspects of your financial security. For instance, you may choose to have both Critical Illness Cover and Income Protection to cover different scenarios and needs.

How do I get started with Life and Protection Assurance from Haven Global Strategies?

Initiating your journey towards financial security is easy. Contact our team at 0161 519 8500 to schedule a consultation. During this meeting, we will assess your requirements, explain your options, and customise a protection plan that suits your needs and goals.

At Haven Financial Planning Limited, we are committed to safeguarding your financial well-being and that of your loved ones. Our expert advisors are here to guide you through the process and provide the protection and peace of mind you deserve.

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