Protection – James Gavin Finance

A little advice goes a long way.

With so many “protection” products on the market how do you know what you really need? How can you be sure that the policy you have now, that maybe you have had for years and years, is still relevant for your current circumstances?

Can you trust that should the worst happen to you, and your family are left to survive without you, that the policy you arranged online or that the advert on the television with fluffy toys as gifts will give your family the financial security to cope financially when you’re no longer around? How can you be sure it’s right one for you?

The truth is that not all policies are the same. Some offer significantly better cover than others. You also need to consider the type of cover, how much cover and how to get the most out of your budget.

We at James Gavin Finance are experts in these, providing solutions to protect you, your home and your family should the very worst happen. We care passionately about giving peace of mind to our clients, that should the worst happen, their loved ones and families are financially secure. We care passionately that if you are self-employed and suffer from an accident or have an illness that means you can’t work and you can’t earn any money, that we have put a plan in place to protect you. We all think that disaster happens to someone else and we are all super healthy, fit and strong. We will live forever.

Of course, we hope this for everyone we help, that they live forever and never suffer a life changing event, but for when the superhero’s don’t feel so super, our advisers take the time and have the expertise to understand your situation and recommend a policy and a plan that’s ideal for you. Comparison sites just don’t compare to a human with empathy.

The truth is we never know what’s just around the corner. That’s why we offer a range of covers designed to protect you, and those who depend on you, from the financial consequences of illness and death. Our experienced experts are here to help protect you and your family when the unexpected happens.

The different types of insurance products

The important thing to remember is that these products are essential, but they do not need to cost the earth.

How do I choose the right protection for me and my family?
At James Gavin Finance we understand that what works for one family won’t necessarily work for another so we find the best solutions for you and your family, all the time working within your agreed budget. As with any financial transaction we recommend you speak to one of our professional advisors. The products we are able to advise on are listed below.

Life Cover

There are many different ways to arrange life cover and our impartial, expert advisors will be able to help you find the cover that suits you and your family best. You may already have a policy that is “Decreasing Term” or “Level Term”. We cut through the industry jargon and carefully explain what policy we recommend for you and the reasons why. We will also be able to help and discuss with you the benefits of placing policies in Trust, which helps ensure that the ‘right money, ends up in the right hands, and at the right time.’

This type of insurance is most commonly taken out with a mortgage and it is designed to pay out a cash sum to help pay off your mortgage if you die during the length of the policy. This means that your loved ones could continue to live in the family home without worrying about the mortgage debt.

You do not have to take out Life Assurance just to cover a mortgage, it can often be taken out as ‘family protection’ purposes.

Trusts are not regulated by the Financial Conduct Authority.

Critical Illness Cover (CIC)

Critical illness (CIC) is a state of severe ill health, which is often very likely to affect a person’s lifestyle. Illnesses such as cancer, heart attack, strokes and multiple sclerosis are considered to be critical illnesses.

CIC is similar to Life Assurance but it pays out on diagnosis of certain illnesses, as just referred to, as opposed to only paying out on death. These types of insurance have really improved in recent years and the life companies are evolving their products to make them more and more comprehensive. If you have kids, there are options for Children’s Critical Illness cover built into these types of insurance which is a brilliant addition to assist families should they need to use the policy.

Income Protection

One of the most important types of protection is Income Protection, this is because it provides individuals with the peace of mind knowing that their essential household expenses can be met if they are suddenly unable to work due to accident or sickness.

It is important to think in broader terms about protection and not just about protecting a mortgage or a loan. Day to day essentials such as utility bills, food shopping and travel costs also need to be covered. Income protection can help as it provides a monthly payment until you are able to return to work.

Accident, sickness and unemployment cover

A mortgage is often one of the biggest commitments your will make during your lifetime and the right Accident, Sickness and Unemployment cover (ASU) policy can provide you with sound piece of mind. In the event of redundancy or illness, your mortgage payments will be made and your home will be safe.

Buildings and contents Insurance

It is essential that you cover your home from such events as fire, flood and subsidence – buildings insurance will ensure your home is covered. To protect your household goods and personal belongings within your home, we recommend you take out contents insurance. We can advise on the best policy for your circumstances.