How we Protect
Securing Your Future: Financial Protection Planning
Protection lies at the core of comprehensive financial planning, safeguarding our well-being and all that we cherish. Though it may be tempting to procrastinate or overlook, its importance cannot be overstated.
Our good health is undeniably our most precious asset, often taken for granted.
True protection extends beyond a mere life insurance policy; it encompasses securing financial stability in times of inability to work and optimising wealth for the benefit of future generations. This is only one form of protection we provide.
Our comprehensive range of solutions includes critical illness insurance, income protection, private medical insurance, and estate planning. Each tailored to meet your unique needs, ensuring you and your loved ones are fully protected in every aspect of life, even if we were to become ill and unable to work.
According to the Association of British Insurers (ABI), there were approximately 26.4 million individual life insurance policies in force in the UK as of 2021. Life insurance remains a popular choice for families and individuals, providing vital financial security in the event of the policyholder’s passing.
What are the Ways to Achieve Financial Protection
Strategic protection planning revolves around preserving the majority of your estate for your chosen beneficiaries, rather than for HMRC. It’s also essential to maintain flexibility and control over any arrangements put in place.
Inheritance Tax planning – You might be surprised to learn that a significant portion of your wealth could be liable for Inheritance Tax (IHT) upon your passing. This encompasses all your assets, including the family home, investments, life assurance plans not held in Trust, and even ancestral heirlooms. Note that tax regulations and reliefs can change at any time and are contingent on individual circumstances.
Reduce Taxable Estate through Gifting – Gifting provides a tax-efficient means to establish an investment fund for your beneficiaries while potentially reducing the estate’s value for Inheritance Tax (IHT) considerations. Our Gift Plan merges an investment bond (onshore or offshore) with either an absolute or discretionary trust, granting you control while benefiting your chosen beneficiaries.
Craft Your Will – Creating a comprehensive Will is crucial to precisely express your intentions for distributing your wealth. We can assist you in devising a well-planned Will that optimises tax savings. Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place. Wills are not regulated by the Financial Conduct Authority.
Trusts – A Trust places the right money, in the right hands, at the right time. They provide the flexibility, creativity and control that a will alone might not.
Benefits of Trust Utilisation:
1. Providing for Future Generations: Securing wealth for future generations and setting aside funds for specific family members.
2. Preserving Wealth: Safeguarding wealth from potential dilution due to beneficiary divorce or bankruptcy.
3. Mitigating Taxation: Reducing exposure to Income Tax, Capital Gains Tax, or Inheritance Tax (IHT).
4. Avoiding Probate Delays: By using a Trust, you can avoid delays in obtaining a Grant of Probate.
Comprehensive Financial Protection: Covering All Your Needs
Health Insurance for you and your family – A comprehensive coverage plan that safeguards against the high costs of medical care and healthcare services. It offers peace of mind and helps you prioritise your and your family’s well-being by providing coverage for healthcare services.
Income Protection – Provides financial support in the event of a loss of income due to disability or illness. It helps individuals maintain their financial stability, cover their living expenses, and support their families during periods of disability or illness when they are unable to work.
Accident and Sickness Cover – Financial protection in the event of an accident or illness that prevents you from working. It offers coverage for medical expenses, loss of income, and other related costs during the period of disability or sickness.
Life Assurance – Ensuring financial security for you and your beneficiaries upon your passing, helping cover expenses and providing for your loved ones’ future financial needs.
Long-Term Care – Provides financial protection and helps ensure you receive the necessary care and support needed to maintain your quality of life and independence in case you have difficulty performing daily activities due to chronic illnesses, disabilities, or aging-related issues.
Specialist General Insurance – Coverage for specific risks and liabilities that may not be covered by standard general insurance policies. Whether it’s professional liability, cyber insurance, marine insurance, or any other niche coverage, specialist general insurance ensures that businesses have comprehensive protection against their specific risks, providing peace of mind and financial security.
Why Choose Us for Your Financial Protection and Insurance Needs?
We understand that protecting your financial future is of paramount importance. Our commitment to excellence and unwavering dedication to our clients set us apart as a leading provider of comprehensive financial protection and insurance solutions. Here’s why you should choose us:
Top-Rated Partners: We have established strong partnerships with reputable insurance providers and financial institutions.
Client-Centric Approach: Your satisfaction is at the core of everything we do. We prioritise your needs and actively listen to your concerns.
Transparency and Integrity: We believe in fostering a relationship built on trust. Our transparent approach means you will always have a clear understanding of the terms and conditions of your coverage. We operate with the utmost integrity, putting your interests first.
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Let us take the mystery out of finanical planning so you can focus on what matters.