Protecting Your Family and Business

Generally, what matters most to people is their family and the desire to protect those nearest to them.  The adverse financial impact on your family or business if you died suddenly, developed a critical illness or were unable to work, is something you should plan for. 

There are a number of different options available that you may want to consider which will help protect you and your family.  A substantial number of companies provide life assurance and a wide range of other types of protection policies available.  This makes for a competitive market which can only benefit consumers.  However, cost is not the only issue when choosing how to protect your family or business. 

With so many options, making a decision can seem overwhelming.  At WHI, we can provide advice on this delicate area of financial planning and help you to put the most suitable provisions or policies in place.

The options on which we can provide advice include:

Life & health protection:

• Life assurance – what financial impact will your family or business suffer should you die.  WHI can advise you on protection. 
• Critical illness – what financial impact will your family or business suffer should you suffer a heart attack, stroke or other serious illness, particularly if you were unable to work again.  
• Income protection – what financial impact will your family or business suffer if you were unable to work due to sickness, illness, injury or redundancy.  Although employed individuals will be entitled to income for a limited period from their employer, it’s important to consider what would happen if you are incapacitated for longer or are self-employed. 

Taking into account your age, health and occupation we search the market to obtain the most cost effective and suitable type of life assurance to meet your requirements.

Business succession planning:

• We can advise on how appropriate business protection can provide liquidity to directors and partners to continue running their business in the event of the death, or diagnosis of a critical illness, to a key employee. We can also provide directors and partners with a flexible method to extract deceased directors’/partners’ equity from the business and ensure business continuity in the event of death or critical illness to key people.

Long-term care assistance:

• Have you considered what would happen if are unable to look after yourself in later life?  If you have assets, you cannot rely on Social Services to pick up the costs of long-term care in the event you are no longer fit and healthy.  Long-term care planning can you give you the freedom to choose the type of care you receive, ensuring that your partner is not financially affected and your family’s inheritance plans remain intact. 

Court of protection work:

• We can advise you on how to ensure your personal affairs are not compromised due to mental incapacity, by assisting in the drafting of Powers of Attorney and registration.  We can ensure compliance of statutory principles in the Mental Capacity Act.

Please contact WHI for details of commission rates, fees and other charges.

To learn more about WHI protection services, whether for your business or as an individual, please contact your WHI Independent Financial Planner.

To download a factsheet containing the above information, please click here.