Do I Need Cover?
I already have cover
First off, this is great news. You have already taken the lead and previously taken out cover. Let us review this for you. There have been significant changes within the industry over recent years, with more conditions being covered and more additional plan benefits.
With the EU Gender Directive also leading to price changes, you may even be able to save money by taking out a new similar plan.
I have cover through my employer
Cover through work can be a great benefit and we would always look to work this in to our recommended solutions. The difficulty with employer cover is it can be very limited, it can have exclusions, your contract can be amended or you could leave your job. It is important consideration when recommending a solution, but can it be guaranteed to be there when you need it most?
I do not have any dependents
In this instance it may be that life insurance is not recommended. However this is one very small part of our protection proposition. What would happen if you were off work through sickness or injury? What would happen if you were made redundant?
Have a look at how the state would help you if either of these events occurred.
I have enough savings
A prudent saver may feel comfortable with their emergency funds. This may well be the case, but how long would this pot last if your income stopped tomorrow?
My family would assist me if required
A family will always want to assist where required. It may be the case that they will be able to in the short term. If your income stopped tomorrow and your family was responsible for your care, how long would they be able to support this? And is that a burden you would be happy placing on your family at an already emotional time?
The right protection will give you the right financial support when it is required, and the peace of mind that you and your family will at least be able to cope financially. Many insurance providers offer additional support such as counselling and help lines in the event of a claim. This can also be invaluable at a time of need.
Please speak to your Regal Finance Group expert and make sure you do not delay in protecting yourself and your family.
Try out the LV= Risk Reality Calculator
If you are the primary breadwinner in your household, you may have considered investing in life insurance. Even if you’re not, you still may have considered it. Life insurance is a type of insurance contract which pays out a lump sum to your dependants should you pass away during the term of the contract.
Life insurance is about making sure that the people you love most are taken care of financially, should the worst happen. The cost of a policy is determined by a number of factors including your age, health and lifestyle.
Life insurance can be set up in single or joint names and the sum assured is determined by you. Premiums are paid on a monthly basis by direct debit.
Critical Illness Cover
Would your family be able to cope financially if you were to become seriously ill and could no longer earn a living? It’s not a pleasing thought, however, it’s crucial to ask yourself these questions. If you believe that your loved ones would struggle to pay the mortgage or meet the costs of household bills, you should really consider critical illness cover.
Similar to life insurance cover, critical illness cover pays out on the diagnosis of a critical illness specified in the policy. It can help with things like care costs, medical bills and even travel abroad for treatment. It can cover your financial commitments in a major health crisis, so it’s worth having if you are worried about your future health and how your family would manage it that situation.
Private Health Insurance
Whether you work full-time, part-time or not at all, you will be eligible for private health insurance.
There’s no denying that the NHS is under a huge strain at the moment. NHS England treats more than 1.4 million patients, every 24 hours and the demand for its services is continuing to rise, putting additional pressure on frontline services. The figures do the talking for themselves…
Statistics show that performance against key standards is deteriorating, as in 2016/17 an average of 89% of people were seen within 4 hours at A&E, compared to the 95% standard.
If you think you are alone in thinking that the future of the NHS looks bleak, rest assured, you’re not. The public concern about the future of the NHS is at its highest since June 2002: 57% think that the NHS’s ability to deliver care and services has been getting worse and will continue to decline.
However, by taking out private health insurance you won’t have to worry about the potentially poor treatment that you will receive from the NHS if you should require its services. Private health insurance is specifically designed to give you access to specialist diagnosis and medical treatment on a private basis rather than having to wait extensively to been seen and treated by the NHS.
The speed of diagnosis and the waiting time before treatment can be a matter of life and death with many scenarios, as every second and minute is vitally important. Private health insurance gives you immediate access to specialist diagnosis and medical treatment and provides peace of mind that in the event that you require urgent medical care, it can be provided as and when you need it.
With this type of insurance, you have the option of choosing between various combinations of cancer cover, outpatient limits, excesses and hospital networks better suited to your budget. You can also include post-diagnostic treatments and physiotherapy within plans.
Buildings and Contents Insurance
How would you replace everything in your home if it was destroyed or stolen? It’s worth getting buildings and contents insurance just in case.
For your advantage, building and contents insurance simple to set up and can take only five minutes. However, the results of not investing in this type of insurance can be devastating.
Building and contents insurance protects the structure, the fixtures and fittings in your home; while contents insurance covers all your belongings. This cover can be hugely significant because if you have a mortgage, one of the conditions will be that you have this type of cover in place. The lender will not want there to be any instance where the property is not insured and their security isn’t protected.
Need Advice & Guidance?
You’re in the right place. At Regal Finance Group we source your product from a range of insurers to find insurance products most suitable for your needs. You can obtain guidance and a quote by speaking to one of our friendly, helpful advisors.
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