Personal Protection Insurance

What is personal protection insurance?

Personal protection insurance is a plan aimed at securing the financial future of your family. In the unfortunate circumstance that the primary provider in a household becomes seriously ill or passes away prematurely, most families would need to make adjustments to their expenses in order to maintain financial stability. To safeguard against such situations, families can establish a form of financial security that provides either a one-time lump sum payment or a recurring income in the event of the death or diagnosis of a family member’s illness.

Personal protection cover

As well as being well-loved by your family, you are also extremely financially valuable to them.

How would they manage if you were no longer around earning income or looking after the children and running the household? We don’t give a second thought to insuring our homes, personal possessions, pets and cars but have we got our own lives properly insured, should the unthinkable happen? Personal protection insurance will ensure you and your family are always fully covered in the most challenging of times. Contact us today and secure your family’s future.

Life Cover

If you have dependents, firstly make sure that your debts such as mortgages and longer-term loans are covered by suitable life assurance so that if anything happens to you, your loved ones will not have the immediate pressure of having to manage loan payments. Our expert financial planners are on hand to advise you on our personal protection insurance services. 

Secondly, consider what capital or income they would need to continue to meet all their living costs and take advice as to how best to ensure your life to provide this if you were to die. If you’re beginning to plan for your loved one’s future, it may be time to learn more about inheritance tax.

Critical Illness Cover

As the name suggests, if you were to suffer a life-changing illness or accident and you were unable to work for a long time or even ever again, critical illness cover could provide you with a lump sum to spend as you wish, which may include clearing your mortgage or debts, paying for private medical care, adapting your property or taking time off work to recuperate or spend with loved ones.

Income protection

Income protection is a significant part of personal protection insurance. An income protection plan can pay you a tax-free income if you are unable to work due to illness or injury, from the date your claim qualifies until the end of the policy, usually set to your anticipated retirement age.

Repaying your debts may be the first stage to consider but you will also need to think about how you can continue to meet your ongoing living costs and maintain your standard of living, for you and/ or your family.

Family protection for you and your loved ones

Protection comes at a cost, but so does not having protection.

As independent financial planners we examine all your options, tailor a plan to suit your circumstances and then source quality personal protection insurance products from the whole market. We identify products that will meet your needs whilst keeping a close eye on your own personal budget. Where compromises have to be made, we will prioritise those areas that are most critical and will build you the best plan available within your budget. You can use lifetime financial forecasting to better understand your current financial trajectory.

Contact our expert financial planners today for advice on personal  protection. We have offices in a variety of locations, including Bristol, Exeter, Plymouth, Poole, Salisbury, Southampton, Taunton, Torquay and Truro.

Book Consultation

To book your initial consultation (no cost or obligation), please fill in the form below with your details and one of our financial planning experts will be in touch.

“Aimee strikes the right balance so that I never feel I am being given ‘the hard sell’ with her advice but that she is working in my best interests. It is because of her that I have confidence in Francis Clark and am happy to continue our professional relationship.”
Jane Taylor, Dorset
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Personal Protection Insurance FAQs

  • How much personal protection insurance do I need for my family?

    The amount of personal protection insurance your family needs depends on various factors, including your financial situation, lifestyle, and future goals. To determine the appropriate coverage amount, our financial planners will help you review your financial obligations, consider your future expenses, assess your income and evaluate your existing insurance coverage to determine the appropriate coverage amount based on your specific circumstances.

  • Can I customise my personal protection insurance coverage to suit my family's unique needs?

    Yes, you can customise your personal protection insurance coverage to meet your family’s unique needs. At Francis Clark Financial Planning, our team of dedicated financial planners can advise you to select the type of coverage, coverage amounts, advise on appropriate trusts where needed and review beneficiaries. By customising your personal protection insurance, you can create a tailored safety net that addresses your family’s unique circumstances and provides peace of mind.

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