When serious illness or loss strikes, your family shouldn’t face financial uncertainty on top of emotional upheaval. The right protection ensures they can continue the life you planned together – no matter what tomorrow brings.
The same is true for your business. The sudden loss of a key owner or employee can disrupt everything you’ve worked hard to build.
Lumin helps you put the right safeguards in place so your family and business are protected through life’s unexpected turns.
Financial Consultant
Protecting your family
Do I need life insurance?A death in the family will be emotionally traumatic, and there may be dramatic financial consequences too. Fortunately, life insurance can provide a valuable safety net for beneficiaries in the event of a death in the family. It is possible to insure against loss of income from a main earner, any inheritance tax that may be due on an estate, as well as debts such as mortgage repayments.
Life insurance policies can be arranged to provide cover for whole of life, or a specific term such as 10 or 20 years. This allows your protection to be tailored to your needs and ensures it is cost-effective.
Speak to an insurance expert at Lumin to get the ball rolling.
Critical illness
Do I need protection against serious illness or injury?Most people feel that life insurance will protect their family if they die unexpectedly. Critical illnesses can also have a devastating effect, whether it is just paying the bills or covering medical costs and hospital treatment. Critical illness insurance protects against this risk.
Each year one million people in the UK are unable to work due to serious illness or injury. If something happened to you, would you be able to survive on savings or sick pay? If not, critical illness protection, which provides a lump sum payout, could help you to pay the bills and cover mortgage costs.
Speak to an insurance expert at Lumin to discuss your needs.
Relevant life cover
Could you save 50% on your life insurance?A Relevant Life plan offers a tax-effective way for an employer to arrange life cover for an employee. There are significant tax advantages for both the employer and employee, making this ideal for business owners and directors. The tax saving could be able to cut the insurance costs in half in some cases.
Apart from the cost savings, relevant life cover is similar to other life insurance. You can still choose your own beneficiaries, and the policy can be structured so that any money paid out will not be subject to inheritance tax.
Business protection
Could your business survive without you?Business protection insurance protects a company against the death of a business owner or employee. It can help to ensure your business survives in challenging times.
Insurance policies can protect against the death of a business owner by providing funds to the co-owners to purchase their stake. This ensures cash is available to the deceased’s beneficiaries, and that the business can continue.
The death of a key employee can seriously impact a business, both financially as well as the loss of key knowledge. Key person insurance can cover this risk.
Speak to a Lumin expert to discuss your insurance options.
Ensuring loved ones stay financially secure if you’re affected by serious illness or death, giving you genuine peace of mind.
We help you keep plans such as retirement, debt repayment, or education funding on track even if income stops.
Our advisers offer essential protection for business owners and individuals against illness or death.
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