Protection & Insurances

Protection and Insurances

Making sense of the options and delivering value: The Blue Sky Approach.

Having sufficient protection and insurances in place is the bedrock of any financial planning. Although daunting, addressing ‘what if’ scenarios is essential before embarking upon investment, pension and tax planning.

Often, our clients have accumulated an eclectic mix of insurance policies and so we help to establish if they are all still relevant to your circumstances. This service is right for you if:

  • You have a family and a mortgage
  • You have changed your job and no longer have the same employee benefits
  • You are a director of a business; or
  • You are concerned about the costs of care in the future

The aim of our protection advice is to give you peace of mind and be ready should the worst-case scenario happens. Our team can help you to provide financial security for your family should something happen to you, allowing you all to live your lives with confidence.

If you are looking for guidance with your Protection and Insurances, call 01202 756560.

At Blue Sky we offer assistance with five types of Protection:

Life Assurance

A large proportion of the population are under insured. Here in the UK, probably because we have the traditional backdrop of state provision, there is not the same cultural approach to having life cover as there is in many other countries. “We’ll be alright” is a common phrase. Planning is about ensuring that you and your family are in financial control. Life cover is not expensive to most, yet it is so often overlooked.

Critical Illness and Health Protection

Fewer people protect their assets and family in case of ill health than protecting against death. The likelihood of someone having adverse health at an early age is much more likely than death. It is essential to have adequate protection, particularly if you have a family.

Private Medical Insurance

This type of cover is often seen as a luxury but with a creaking NHS the numbers taking out Private Medical Insurance is increasing. Larger companies tend to offer this as a benefit to their employees but it is especially useful to protect key people within a business and/or business owners.

Business Protection

An integral part of any company’s business plan should be managing risk. Having effective Shareholder Protection and Key Person Cover has to be embedded in the culture. To operate without adequate protection is foolhardy in our opinion and far too great a risk.

Long Term Care

Unfortunately in the UK, it is not possible to purchase long term care protection ahead of care being required. Ironically, when care is required, it is possible to purchase an immediate care annuity which provides a high yield which is generally tax free… and with an element of life assurance! Careful planning is required around such a purchase. It is not suitable for everyone and the amount that should be committed to an immediate care annuity depends entirely upon individual circumstances.

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