Life insurance products are designed to provide money when it’s most needed by transferring the financial risk to an insurance company.
Whilst protection is an important part of every persons financial planning, we understand that every one of our clients will require different solutions. We will ascertain what level of protection is most suitable for you taking into account your current situation and longer term objectives.
The most common reason for taking out life assurance will be to cover a mortgage or to provide replacement income upon death.
Critical Illness Cover
Critical Illness Cover pays you a tax free cash sum if you are diagnosed with one of the defined illnesses or disabilities covered by the plan (e.g. cancer, stroke, heart attack).
Income Protection Insurance
Income Protection Insurance is less well known than life assurance but potentially has more applications. Income protection replaces your income in the event you are suddenly unable to work. Typically, you can cover up to 65% of your gross income – less any state benefits for which you become eligible. This income is paid until the end of the policy term or until you are able to return to work, whichever is the earlier.
At Totara we will assess your needs and provide a recommendation around what policies you require to provide financial security for you and your family.