Advice of Personal Protection products tailored to your needs
For most of us, the possibility of someone in our family suffering from an injury or serious illness is something we don’t want to even think about. The prospect of one of them dying is simply unimaginable. But what if something dreadful did happen, and that person was also the main breadwinner? What would happen then? How would your family cope? This why selecting the right personal protection for you and your family is crucial.
No-one can predict the future, but fortunately there are a whole host of personal protection products which can protect your family financially, if the worst does happen. At Octagon Financial Services we can advise you on personal protection products which can be tailored to your particular needs, including:
Also known as Term Assurance or Level Term Assurance, this is an insurance policy designed to pay-out a lump sum on the death of the life insured.
You pay a fixed rate of payments over a fixed period of time and have the flexibility to choose either single or joint cover. This is a really valuable and cost-effective form of personal protection to give both you and your family peace of mind.
CRITICAL ILLNESS COVER
What would happen if you were diagnosed with a critical illness which meant you couldn’t work? Could you still pay your mortgage, and your bills?
This is a personal protection insurance product which is usually designed to pay-out a lump sum if the policyholder is diagnosed with one of the specific illnesses from a predetermined list.
If you were unable to work for a period of time, could you survive financially? Do you have savings? Could you manage on state benefits or statutory sick pay?
An income protection policy provides a regular income for a fixed period if you are unable to work due to an accident, illness or redundancy.
PRIVATE MEDICAL INSURANCE *
Waiting for treatment on the NHS can be a lengthy process.
Private Medical Insurance (PMI) covers the cost of private medical treatment and can often offer better quality facilities as well as significantly shorter waiting times. Receiving the treatment you need promptly can also mean you are able to get back to full fitness much quicker, and then get back to work.
* Octagon Financial Services Ltd act as a credit broker not a lender.
MY EMPLOYER WILL PAY ME
Are you 100% sure what sick pay you are entitled to? There is a big difference between being on full-pay for 6 months and statutory sick pay.
I’LL RELY ON MY SAVINGS
How much do you have? Have you actually worked-out how long your savings would realistically last based on your current outgoings? No, we thought not.
I’LL RELY ON MY FRIENDS & FAMILY
Taking into account how long your own savings will last, is this really feasible, or fair?
THE STATE WILL PAY ME
Recent research on the Employment Support Allowance illustrates that the statistics on successful claims would perhaps say otherwise.
So, would you rather fill-out a 50-page ESA claim form with no guarantee of success, or guess whether your SSP will be sufficient, or keep your fingers crossed your savings will see you through; or simply complete a 5-page insurance claim with the help of a qualified Adviser, and be absolutely assured of a pay-out? It seems like a no-brainer to us!