Questions?
We have answers.
When should I start thinking about inheritance tax planning?
The best time is now - regardless of your age or wealth. Early conversations give you and your family more options, reduce pressure, and ensure you make the most of available allowances and reliefs. Planning ahead leads to better outcomes and peace of mind.
What’s the difference between critical illness cover, income protection, and private medical insurance?
Critical illness cover pays a lump sum if you’re diagnosed with a specified serious illness (like cancer or heart attack). This helps with bills, debt, or adjustments to your lifestyle while recovering.
Income protection (also known as permanent health insurance) pays a regular income if you can’t work because of illness or injury - covering you until you either return to work, retire, or the policy ends. It covers a wider range of health issues than critical illness and offers longer-term reassurance.
Private medical insurance covers the cost of medical treatment, giving you rapid access to consultations and care, typically in private hospitals. However, it won’t pay out lump sums or replace lost income.
We’ll help you find the right type, or mix, of cover so you and your family are fully protected.
Income protection (also known as permanent health insurance) pays a regular income if you can’t work because of illness or injury - covering you until you either return to work, retire, or the policy ends. It covers a wider range of health issues than critical illness and offers longer-term reassurance.
Private medical insurance covers the cost of medical treatment, giving you rapid access to consultations and care, typically in private hospitals. However, it won’t pay out lump sums or replace lost income.
We’ll help you find the right type, or mix, of cover so you and your family are fully protected.
Are there differences between insurance companies?
Absolutely. Insurers vary in their underwriting, coverage, pricing, and the types of conditions or lifestyles they’re happy to cover. Some might be better for certain professions, medical histories, or sports. We use our experience and market knowledge to identify which provider - and policy - best meets your specific needs.
What’s the value of arranging insurance through a financial planner?
A financial planner ensures your insurance arrangements are shaped by your overall financial picture. We base our recommendations on a thorough review of your lifestyle, financial gaps, and goals, then build a protection plan that targets your real needs at the best value. We can also source specialist policies for unique medical backgrounds or requirements, providing truly personalised cover.
Should I put my insurance policy into a trust?
Putting your policy in trust means the payout won’t form part of your estate - potentially reducing inheritance tax and speeding up access to funds for your beneficiaries. It also gives you more control over who benefits and when. It is important to seek advice as trusts are a complex area and may be suitable dependent on your personal circumstances. We make the trust process straightforward and ensure your wishes are clearly documented.
If I have enough capital, do I still need protection?
Many high-net-worth clients technically could self-insure, but insurance is often about smart planning, not just capacity. Insurance can preserve your capital, manage tax more efficiently, and ensure liquidity exactly when it’s needed - avoiding the need to disrupt your investment strategy or liquidate assets at an inconvenient time.
Can Finura help with protection for my business?
Absolutely. Business protection is crucial to keeping your company resilient in the face of unexpected events, such as the illness or death of a key employee or director. We offer advice on relevant life plans, key person insurance, shareholder/partnership protection, and business loan protection - ensuring your business can cover debts, maintain profits, and transfer ownership smoothly if needed. This support also adds credibility with investors, lenders, and employees.
Is paying insurance premiums really worth it?
While we all hope never to make a claim, insurance is more about impact than probability. If illness, injury, or loss of life were to occur, would your family or finances be secure? In 2023, UK insurers paid a record £7.34 billion across over 275,000 life and critical illness claims - proving that real families and businesses need support more often than you might think. For most people, the peace of mind far outweighs the cost.
I have protection through work – is that enough?
Workplace insurance provides a valuable foundation, but it often has its limits. Cover is typically capped at a multiple of your salary, may end when you leave your job, and often lacks flexibility in how or when benefits are paid out. We regularly review workplace benefits for our clients and can help you ‘top up’ where needed, so your protection is properly tailored to your actual lifestyle and future needs - not just your job title.