Radcliffe & Co

Financial Protection

Financial Protection

Thinking about planning for a time after you’ve goneor being unable to work due to an accident or sickness and being off work long-term is never easy.  However, with some professional guidance Radcliffe & Co can offer reassurance and comfort to you and your loved ones when planning for these situations.

For most of us life is a series of important milestones that may cause us to think about the future. Inevitably, when we think about our life and beyond, we can’t help but think of what may happen to the people we leave behind. It’s possible that your dependents or next of kin may become financially responsible for your outstanding debts or expenses like childcare costs, a mortgage or even funeral, medical or care costs.

Even if you have been careful with your finances and have no outstanding debts, you may simply wish to leave a legacy to your loved ones, help to contribute to the future cost of living for any dependents or give a small sum to help cover the cost of your funeral.

Radcliffe and Co can offer their expert guidance to assist you in making the appropriate provisions for your loved ones and therefore offering you peace of mind.

One way to determine your need for life insurance or other financial protection is to consider your financial obligations and what the impact of these would be on your loved ones were you to die or be incapacitated due to ill health or injury.

When you consider the cost of living today it is surprising the number of expenses which arise without being extravagant.  The simple costs of running your home, in addition to mortgage costs, and raising children can so easily be overlooked but do not stop in the event of death or long term incapacity.  So if you have little or no provision for your loved ones then life insurance and financial protection should surely become a serious consideration.

The types of plans that Radcliffe and Co can advise on include:-


  • Life Cover– A variety of plans are available that can pay out a tax free lump sum, or income, in the event of death within a defined term. The life cover can also be arranged to reduce each year to cover a reducing liability, such as a mortgage or to last throughout your lifetime, with no pre-determined term.


  • Critical Illness Cover– Pays out a tax free lump sumon diagnosis of a defined critical illness within the term of the policy (this can be combined within additional life cover).


  • Income Protection– Provides a regular tax free income, after a deferred period, in the event of an individual being unable to work due to an accident or illness. Written to a defined end date, usually retirement.


  • Private Medical Insurance– A policy designed to meet some or all of the costs of private medical treatment.

Should you feel that you already have sufficient life assurance protection in place for your needs then you may also wish to consider the benefits of placing these policies within a suitable trust.

Radcliffe and Co can offer expert guidance on this process which will ensure that any proceeds paid out in the event of your death will be made in a timely fashion and to your nominated beneficiaries.  This process will also avoid the need for probate to be granted before any life assurance proceeds can be distributed, which can at times be a lengthy process, and has the added benefit of ensuring any life assurance proceeds remain outside of your estate for inheritance tax purposes.