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    Financial Protection Advice

    Protect your peace of mind. Take care your loved ones, no matter what life throws your way and stay on course to meet your financial goals.

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    Do I need financial protection?

    Financial protection is a type of insurance that can help you provide for you and your loved ones in case of illness or injury. Even if protection doesn’t seem necessary now, ask yourself:

    • Can you and your loved ones maintain their quality of life if you were unable to work?
    • Would your family struggle to keep up with mortgage payments without your income?
    • Do you have dependants that rely on you for day-to-day living expenses?

    The variety of financial protection plans is staggering, offering flexibility to find a plan that suits you. A Financial Adviser can help you with your protection planning, navigating the complexities and finding the most appropriate plans to suit your family’s needs.

    Your situation can change

    Your financial situation can change. Your financial plans may need to change too. We suggest reviewing your finances regularly to ensure your plan stays on track. For example, if you have Group Protection provided as an employee benefit at work, remember that any changes to your employment could leave you unprotected.

    Consider reviewing your situation with your financial adviser if your marital status or occupation changes, if your financial dependants change, or other life events such as buying or selling your home or receiving an inheritance.

    Visit our financial planning page for more information

    Types of financial protection cover

    There are many types of financial protection insurance, and it’s easy to get confused about what is right for you. There are three main products:

    What our experts say about financial protection

    Decoration
    • Often we find protection is the hardest conversation to start, as people generally prefer to talk about growing wealth and reaching goals. That's understandable, but making sure plans stay on track if you're forced to give up work for a time, or providing for your loved ones in the event of serious injury or death is common sense and the backbone to any financial plan.

      Nick Moules, 
      Wren Sterling

    Financial advice tailored to you

    Protection advice tailored to your needs

    Whether you’re looking for one-off protection advice or a relationship with a financial adviser that looks at the ‘whole picture’ of your finances, we can help – online or face to face.

    Your financial adviser will help you consider different scenarios to understand how you could benefit from financial protection. We’ll consider the impact of these on you and your family, your lifestyle and future goals. We’ll then search the market for suitable plans that provide the right level of cover. In this way our advice will be tailored to your specific needs and provide recommendations for what to do next.

    What affects the costs of financial protection?

    How much these plans will cost will depend on your circumstances and the needs of your financial dependants:

    • The type of financial protection you choose (as costs will vary between plans and providers)
    • The length of the policy
    • Your age, health and lifestyle
    • The amount of cover you require

     

    Benefits of financial protection advice

    Make protection part of your financial plan today

    We have a network of financial advisers across the UK, so that you can access financial advice locally, from qualified experts.

    Get in touch

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    Stats correct at Jan 2025.

    FAQs

    • What types of financial protection are available?

      What types of financial protection are available?

      There are many types of financial protection insurance, and its easy to get confused about what is right for you. There are three main products:

      Critical Illness Insurance provides a cash lump sum or monthly income on diagnosis of specified critical illness. The money is intended to help you generate an income while you’re unable to work, pay for medical treatments or modify your home.

      Life Insurance provides a cash lump sum or monthly income to a beneficiary if you die or become terminally ill. There are several different types of life insurance, which one you choose will depend on your financial dependants and their needs.

      Income protection provides a monthly income if you are no longer able to work due to illness or injury. If you’re self-employed (or your employer only provides statutory sick pay), you may wish to consider Income protection.

    • What is the difference between level and decreasing term life insurance?

      What is the difference between level and decreasing term life insurance?

      ‘Level’ and ‘Decreasing term’ describe the differences between the cover a life insurance policy would provide if it was triggered. Whether or not your policy is level or decreasing term will be decided when you take out the policy, as well as the amount of cover it will provide.

      Level term policies provide the same level of cover for the whole term of a policy. Decreasing term policies will slowly reduce the amount of cover they will provide.

    • What is income protection?

      What is income protection?

      Income protection provides a monthly income if you are no longer able to work due to illness or injury. If you’re self-employed (or your employer only provides statutory sick pay), you may wish to consider Income protection.

    • Why should you take out financial protection or insurance?

      Why should you take out financial protection or insurance?

      Even if protection doesn’t seem necessary now, ask yourself:

      • Can you and your loved ones maintain their quality of life if you were unable to work?
      • Would your family struggle to keep up with mortgage payments without your income?
      • Do you have dependants that rely on you for day-to-day living expenses?

    • Do I need to review my protection products?

      Do I need to review my protection products?

      Your financial situation can change. Your financial plans may need to change too. We suggest reviewing your finances regularly to ensure your plan stays on track. For example, if you have Group Protection provided as an employee benefit at work, remember that any changes to your employment could leave you unprotected.

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