Expert Family Protection Advice
Securing the financial stability of your loved ones is paramount, and our dedicated team is here to help. Our Family Protection Advisers provide comprehensive, independent advice on Life Assurance, Income Protection, and Critical Illness cover, ensuring your family is fully safeguarded against the unforeseen.
Contact us today for a tailored, confidential consultation.
Family Protection with Trevor Downing
There are many types of protection available, such as life insurance, critical illness cover, income protection, and private medical insurance, just to name a few. These policies can help to provide financial support to you and your loved ones in case of unforeseen events such as illness, disability, or death.
As independent financial advisers, Trevor Downing (IFA) can help you assess your specific needs and provide you with tailored advice on the most appropriate protection policies for you.
Life Assurance
Life assurance can indeed be used as part of effective financial planning, especially for those with dependants or debts. It is important to consider the potential financial consequences for loved ones if your income were to cease due to serious illness or death. This includes factors such as mortgage or rent payments, school fees, and household contributions.
For single individuals without dependants, life assurance may not be necessary unless there are outstanding debts that could be passed on to others. Life assurance can also be used for effective funeral planning by placing a policy in trust for beneficiaries, which can be quickly passed on to cover expenses without being caught up in probate.
Finally, life assurance can be used in inheritance tax planning to reduce the burden on surviving family members and avoid reducing the value of the estate due to tax. At Trevor Downing (IFA), we can help you navigate your options and provide guidance on the best approach for your individual circumstances and goals.
Income Protection
It’s important to note that Income Protection Insurance policies typically have a waiting period, called a deferred period, before payments begin. The deferred period can range from a few weeks to several months, and the longer the deferred period, the lower the premium. It’s also worth noting that Income Protection Insurance policies can be structured to provide benefits in the event of being unable to perform your own occupation or any occupation. Policies that cover you for your own occupation tend to be more expensive, but provide more comprehensive cover. As with any type of insurance, it’s important to read the terms and conditions of the policy carefully and seek advice from a professional if necessary.
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Trevor Downing IFA is a Trading Style of Trevor Downing Financial Management (IFA) Limited. Trevor Downing Financial Management (IFA) Limited is authorised and regulated by the Financial Conduct Authority. Trevor Downing Financial Management (IFA) Limited is entered on the financial services register https://register.fca.org.uk/ under Firm Reference: 118176. Trevor Downing Financial Management (IFA) Limited is Registered in England at Companies House: 01829773
The information contained in this website ultimately relates to UK regulatory regime and is therefore restricted, and only relevant to consumers based in the UK.
Information contained on this website is not, and should not in itself be construed as, financial advice which can only be provided upon full appraisal and consideration of your individual circumstances.
If you wish to register a complaint, please write to: complaints@downingfm.co.uk . A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on requests and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at: https://www.financial-ombudsman.org.uk or on: 0800 023 4567.
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