Securing a comprehensive protection policy for a self-employed barrister
What was the situation?
A recent client; a Barrister (so self-employed), married and with two children, was referred to me from one of our advisers due to their situation and suitability for a protection insurance policy.
The couple confirmed that their income was completely reliant on the self-employed Barrister. In addition, the couple’s children attended a fee-paying school and subsequently, the client had a high level of outgoings and commitments.
What was the issue?
We talked over the risk of the new mortgage if they were unable to pay. This could be due to sickness, disability, long term illness or death. Highlighting these risks, the clients agreed it was important for them to put a policy in place.
What was the process?
Following further discussion, I needed to explore which provider would offer the most suitable, all-encompassing policy for my client’s need.
It was decided that the couple would both have individual life and critical illness plans to ensure that if either of them were diagnosed with a serious illness, the family would have a financial safety net. Using my extensive network, I was able to identify a few options that would work for my clients.
What was the solution?
After assessing what protection the client needed to cover the whole family, I was able to secure income protection for the self-employed Barrister, critical illness cover in case of serious illness, life cover and family income benefit cover to cover school fees should the worst happen.
Ensuring that income continued to come in to cover the family was extremely important to the client because they felt that if either adults were to die, they wanted to ensure that the remaining partner could cover family costs and school fees until the children reached 21. This was also written into a trust, which makes sure that if they were both to die, the children would benefit from the life cover as beneficiaries.
Lending solutions with LDN Finance
Are you looking for a protection policy to cover you and your family should the unthinkable occur? 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.
Testimonials
Our happy clients
As a returning customer, I would like to express my sincere thanks to the team for their outstanding support during the completion of my property purchase. In particular, Catherine and Darren have been incredibly helpful throughout the process. Their communication, professionalism, and customer service have been absolutely excellent, making the entire experience smooth and reassuring. Many thanks again for all your hard work.
My fiancée and I were recommended to LDN Finance when we started our mortgage journey, and the service we have received, and continue to receive, has been outstanding throughout. Phil Levesley initially looked after us and made what can be a very daunting process feel straightforward and easy to understand. He took the time to explain everything clearly, never rushed us, and was always happy to answer any questions we had. Nothing ever felt like too much trouble. As part of the process, we also wanted to explore a number of protection policies, and Phil introduced us to his colleague,
Owen was absolutely amazing and supported me every step of the way throughout the mortgage process. He was always clear, patient, and incredibly reassuring, making what could have been a stressful experience feel smooth and manageable. Bharathy was also really helpful, promptly getting in touch and making sure all the relevant information was handled efficiently. I couldn’t be happier with the service and would highly recommend them both. Five stars without hesitation.
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