Providing adequate protection, in the event of death or disablement/serious illness, for oneself, ones family or business is at the very centre of proper financial planning. Death or disablement are immediate risks and the financial consequences of either can be devastating. At Insight Private Clients we have the resources to properly advise and execute on the most appropriate approach and product to meet specific risks identified. Our advice and services embrace the full spectrum of the various types of cover required, as follows :
At Insight Private Clients we provide our clients with the correct level and type of protection required to ensure adequate capital is available in the event of a premature death or serious illness. We also assist in the provision of income replacement in the event of long term disablement or serious illness. We will design and implement the most suitable arrangements in a manner that is cost effective and where relevant, tax efficient.
Mortgage Protection cover, payable in the event of death or critical illness, may be a requirement of the lending institution involved. Arranging this cover in the most suitable manner and one that secures the property in the event of one of the above unexpected events is a core service of Insight Private Clients.
Income Protection, the replacement of earnings/salary in the event of long term incapacity as a result of accident or illness, is a critical component of any financial protection plan. Insight Private Clients are experienced in advising the self-employed and those not covered for this benefit in their employment on the benefits, terms and conditions of the most suitable plan to safeguard their income, meet additional medical expenses and generally provide for an acceptable standard of living.
Critical Illness Protection
Critical Illness cover provides for the payment of a lump sum in the event of the diagnosis and certification of a specified illness. Its advantage lies in the provision of capital to assist in the funding of life changing circumstances and needs. The market for this cover is extensive and Insight Private Clients, with its resources, is well positioned to advise on the most suitable product based on the specifics of each client.
The death or disablement, as a result of critical illness, of a key employee can provide a company with significant financial and survival challenges. Replacement costs, loss of profits, Bank commitments with personal guarantees are but a few of the circumstances that may prevail and need to be overcome. Insight Private Clients are experienced in the design and implementation of Keyman cover arrangements in accordance with prescribed tax legislation such that any financial risk can be addressed satisfactorily.
Corporate Co-Shareholder Protection
The premature death, or incapacity as a result of serious illness, of a shareholder in a private limited company can present serious financial issues in the absence of available funds.
For the family of the deceased, value for the shareholding held may be sought. For the surviving shareholders, lack of funds may result in a dilution or total loss of control of the business.
Corporate Co-Shareholder cover provides the capital required to meet the requirements, defined in advance, of all the parties effected by an untimely death or critical illness. Insight Private Clients has extensive experience of structuring a customised plan and is seasoned in dealing with legal and tax advisors to ensure all policy proceeds are payable to the designated parties and tax efficiently.