Income protection & critical illness cover for whole family after illness

Securing income protection and critical illness cover for the whole family following diagnosis of life-threatening illness

Article by Robert Fox Associate Director - Protection

What was the situation?

My clients were referred to me internally by one of our advisers following the completion of their mortgage. They are a business owning couple who were searching for comprehensive protection insurance following the diagnosis, and later all clear, given to their child who had been diagnosed with a critical illness at an early age. With more children in their family, the couple wanted to ensure they had full cover for the family should the unthinkable happen again.

What was the issue?

Because of the severity of the treatment and the rehabilitation required afterwards, the couple had spent extended time off work caring for the child. They wanted to ensure that if anything like this were to happen again, they could afford to take time off and have finance available to cover the family.

What was the process?

The couple had previously arranged personal policies, however due to them running a business I suggested that the cover was moved into their Limited Company as they had received advice from a tax adviser that this would be more tax efficient.

What was the solution?

Following my advice, the couple decided that they would take out an income protection policy for both of them through business. In addition, a life with critical illness policy was also arranged to include a children’s benefit, therefore if their children were to be diagnosed with a life-threatening illness again, a lump sum could be paid out to cover medical bills and associated costs. The couple could also take time off to care for the children should illness occur again.

The couple also agreed to a critical illness policy to so that they could afford comprehensive, private treatment should it be necessary.

The clients were delighted with the outcome, taking comfort in the fact that the family were now protected from the unthinkable.

Lending solutions with LDN Finance

Do you have a family and are looking for a protection insurance to cover them? At LDN Finance, our extensive panel of insurers mean that we can comprehensively assess your requirements, and find an insurer who will bespoke a policy to cover your needs.

Contact us to speak to our of our protection advisers today.

Need competitive protection solutions?
We can help.

Whether you are looking for critical illness cover, key person insurance, trust advice or one of the many other protection products offered, your LDN Finance adviser will listen to your unique personal, business and financial circumstances to tailor a bespoke protection policy that secures your immediate financial future.



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