According to Norwich Union*, apathy is leaving 20 million adults at risk because they have no life cover or income protection. It is a sad fact that whilst most of us are quite happy to insure our car, our house and our travel arrangements to their full value, few of us take quite as much care over our health and loved ones.

*Source, Norwich Union/Swiss Re, March 2008

Nestor Partnership is able to offer Independant Financial Advice on all aspects of your Life Insurance and Protection planning and we hope that our Life Insurance and Protection Tech Zone helps you. Please contact us if you need any advice or further information.

What is Life Insurance?

Life insurance works on the basis that should you die within a pre-determined period a cash sum is paid either into your estate or directly to chosen people.

It takes careful planning to choose the right life insurance policy for yourself, your family or your business.  It is also important to review regularly your life insurance needs to make sure that they keep up with changing personal and economic circumstances.

Surveys have shown that one person in three has no life insurance at all. A further third have not reviewed their life insurance needs over the previous five years – meaning that they may now be underinsured. Please contact us if you need a review of your existing life insurance provision.

Most of us, at some stage in our lives, need some type of protection. Here are some reasons why:

1. Protecting your Mortgage payments – If you have a mortgage, you may want to ensure that if you die within the mortgage term, the debt is repaid.
2. Replacing the lost salary – If you have a family and / or a partner you may want to ensure that they can continue to live comfortably if you were to die.
3. Helping your children  – What happens if mum or dad die and they are the primary childcare provider. You may want to have enough money to ensure that any childcare expenses are covered.
4. Educational expenses –  You may have plans for your kids to go to private school or to university. Life Insurance can ensure that those plans are fulfilled in the event of your death.
5. Business Protection – What would happen if you are running your own business and you died? Could the business survive and would your co-partners / co-directors be able to continue?
6. Inheritance tax planning – Can your dependants and loved ones find money to pay the tax bill?