Finances AbroadMaking the complicated simple!

People have various reasons for needing life cover, ranging from protecting spouses and families to Inheritance Tax planning. Having the right insurance offers peace of mind and takes the worry out of the unexpected.

Personal insurance planning is all about protecting yourself, your lifestyle and your loved ones by paying into a policy which pays out in the unfortunate event of accidental death, critical illness, accidental injury, or loss of income. Predicting these events is impossible, but preparing for them is not.

There are many options available for the type of insurance you need. You need to ensure that you are adequately covered at the right price.

We have outlined some of the options below:

Pays out to your beneficiary in the event of your death, whenever that may be. Benefits are paid on death or an age specified in the policy, typically at the age of 100.

Is insurance against your untimely death for a fixed number of years, for example, the duration of your children’s education.

This insurance can be used to pay off a mortgage or other loan in the event of your death during the outstanding period of the loan. The death benefit decreases over the term to virtually nothing in the final year.

Is ideal for expatriates who would like to insure themselves for one year at a time in response to changing circumstances.

Consider this: One in three people by the age of 65 will have suffered a critical illness – an alarming statistic because it illustrates how easily it could be you.

Most people will make sure that they have medical insurance in place when they move to a new country. Sadly, it is a common misconception to think that is all you need. For example, who will protect your family financially if you are suddenly unable to work?

Clinical care for critical illnesses like cancer can be costly, and can only be covered by Critical Illness Insurance. If you are not adequately protected, you may leave your family exposed to severe financial hardship.

Income protection insurance is a solution that provides secure protection for a percentage of your income if you are unable to work due to injury or serious illness. In such cases, payments can be received either as a lump sum or through regular scheduled payments.

To talk about mortality is never a cheerful subject yet it is one that must be broached and the sooner the better. During our lives, it is second nature to commit ourselves to a range of things, like a mortgage, car finance, loans etc. But have you considered what would happen if you died when these debts were still due?

This is an important aspect to consider during your planning, especially if you have dependants. Usually less expensive than lump-sum level term insurance, Family Income Protection would pay out a regular income to dependants in the event of your death.

The very foundation of insurance is the ability to protect both yourself and your family against the things in life that you can’t control. Ask yourselves some tough but necessary questions with the support of an adviser. What would happen to my family if the worst was to happen?