Sometimes, protecting the assets is you already have is just as important as growing them.
Getting the right insurance and protection for the things you hold dear in life can be just as important as the journey to acquiring them in the first place.
While your savings account may not yet represent your end goal, whether that by a house, new car or a child’s future, it may still be an instrumental vehicle to help you get those goals, and where possible, should be treated as such.
At MacFarlaine and Brooks, not only can we walk you through the best and most suitable ways to protect your assets against a potentially volatile world market, but we can help you do it too.
For those looking to better protect their assets, both financial and physical, MacFarlaine and Brook can help you navigate the sometimes complex nature of insurance programs, helping better understand the multitude of products on offer and how they may be able to help you secure your financial future, and the futures of those you hold dear.
Practically all savings accounts, investment and mortgages come with a degree of risk.
That risk of course varies from scheme to scheme, and therefore the suitability of a scheme varies from person to person, depending on both their attitude to risk, and their capacity for loss.
MacFarlaine and Brooks take these risk factors seriously, and will only provide you with financial advice that is in your best interests, making sure you understand what risk you may be exposed to by placing your capital in certain schemes, ensuring your funds strike a balance between risk and potential reward.
At MacFarlaine and Brooks, we focus on one of the most important aspects of great financial advice – understanding.
What we mean is, not only do we take the time to understand you thoroughly, but we go further to ensure that you have the best possible understanding of the insurance and protection products on offer throughout the market, giving you the chance to make an informed decision, as jargon-free as possible so you KNOW why the products we are suggesting are in your best interests.
CRITICAL ILLNESS COVER
Life Insurance products aren’t always set to pay out just in the event of your death. Instead you can look at Critical Illness Cover to help you out should you fall ill and be unable to work, meaning your family and financial obligations are still provided for while you try to get better, with a tax-free lump sum should you be diagnosed with one of the recognised and covered illness, often including most forms of cancer.
INCOME PROTECTION INSURANCE
Another great form of insurance, Income Protection Insurance (often called IP), covers your in a variety of circumstances if you are unable to work, including either unemployment OR accident and sickness, OR BOTH. Unlike critical illness cover, IP pays out in tax-free monthly installments for the remainder of the period you chose to be covered to protect your financial obligations while you try to get better.
FAMILY INCOME BENEFIT
Often called FIB in the financial services industry, Family Income Benefit is similar to life cover in that it can be paid upon your death. However, it covers you during the specific period of time that you choose at the start, and pays out in tax-free monthly installments for the rest of that period, simulating a sort of income.
A holistic approach to Insurance and Protection.
As a full-service IFA, we can help you explore ways to take a more holistic approach to your finances too.
This means “looking after the whole”, not just your mortgage, savings account, investment portfolio or pension as single entities, but ensuring you have adequate protection for the whole of your financial scheme.
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