Protection

What do we mean by protection?

By protection, we mean Financial Protection. Financial Protection is a form of Insurance and as with all insurance, the applicants transfer the risk from themselves to an insurer, receiving a policy and paying a premium in exchange. Protection is designed to help protect you against the financial consequences of unexpected events such as death or disability. There are three main areas that we offer advice on including:-

• Life Assurance - Most people need life assurance but it becomes vital when you have found your partner for life and have children. Also financial commitments play a role such as mortgages or loans.
• Mortgage protection - which also falls under this category where the existence of substantial debt often needs to be paid off in the event of death.
• Income protection - This is another type of insurance which covers not life, but your income. The industry standard usually covers up to 60% of your current gross income in the event of becoming sick or disabled and unable to work. read more

Our Tailored Protection Service

Generally, with financial protection one size does not fit all. It is worth noting at the outset that an overwhelming majority of clients are unaware of the existence of different types of life assurance and even the availability of an adviser who can tailor products to meet certain criteria. Surprisingly, most people take out life assurance without ever discussing their situation with an independent adviser! A few moments spent discussing your needs with an adviser could save you time, money and reduce any risk. Our advisers will take the time to get to know your objectives, preferences and personal circumstances. Being independent, we research the entire market, using sophisticated systems, to find the most appropriate protection product for you.

Is cheapest always best?

When advising on protection products it can often be misleading to assume that the cheapest policy is the best. Critical Illness Cover is a good example of where cheaper is not always better. Insurer A may generate a cheaper premium on Critical Illness Cover but may well mean that it doesn't cover as many Critical Illness Conditions and perhaps Insurer B will with a slightly higher premium. Which is more suitable? This is where our advice really counts! Another area to consider is whether we base premiums on reviewable or guaranteed rates. Guaranteed rates provide certainty so you know exactly what you are paying each month into the policy. They maybe more expensive but may also prove to save you money in the long-term. This is because reviewable premiums are reviewed on a regular basis and sometimes increase dramatically with age. Therefore, the most suitable type of premium may depend on your short, medium and long term goals.

For more information on financial protection please complete the following client enquiry form and one of our advisers will call you back to arrange an appointment.

Alternatively you may telephone us on 08454 50 50 60 or email us at info@mcp-financial.co.uk

Or alternatively please complete the following client enquiry form and one of our advisers will call you back to arrange an appointment.

Protection Click to enquire online