It is a sad fact that whilst most of us are quite happy to insure our car, our house and our travel arrangements to their full value, few of us take quite as much care over our health and loved ones.

This guide is designed to highlight the issues which may concern you and introduce you to the different types of cover available which can help secure your family's future. We outline what different types of insurance is available.
Regent Street Advisers Limited offer advice on all types of insurance and protection.


Why do I need Insurance?

The key points everyone needs to remember when asking themselves ‘do I need life insurance?’ is should the unfortunate happen and you pass away are you leaving any dependents/loved ones behind and how will they manage? By taking out a life insurance plan you will be ensuring that at a time of great difficulty for those left behind you are taking away the stress and worry of how they are going to pay off any debts and/or be providing a source of income through a guaranteed tax free lump sum.

The same questions need to be answered in the event of becoming ill, how would you and your family manage if you couldn’t bring your income in to the household? Putting policies in place to ensure that in the event of long term illness your debts, mortgage or standard of living wouldn’t be affected. This can help reduce the stress and rehabilitation in a difficult period of your life and ensure you can cope financially.

Our professional advisers are trained to help identify any liabilities to your circumstances and recommend the appropriate insurance for you.

Life Insurance

Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. It can help to support your family after you die. There are different types of Life cover and our advisers will help you find the most appropriate to your circumstances.

Critical Illness

Although critical illness cover is sold by life assurers, there is a big difference when compared with life insurance. Firstly, you don’t have to die to benefit from the critical illness insurance policy. This type of cover is designed to pay out a (tax-free) lump sum in the event of you suffering from certain types of serious illness or if you have to undergo certain types of surgery. The lump sum paid out by the critical illness insurance is to help with the extra costs incurred as a result of contracting a particular condition but it’s important to note that it only pays out if you contract one of a defined list of illnesses specified in your policy. It is important to remember that if you contract an illness which is not covered on your policy you will not receive a payout and as many of these policies differ in what they cover so you should always check your policy.


Income protection insurance/permanent health insurance

Income protection aims to give you an income if you can’t work in the event of sickness or illness. The amount of cover can be anything up to three-quarters of your normal wage, less any state benefits you receive.

For the self-employed, insurers usually base the level of cover on your taxable income at the point of a claim. All pay-outs for income protection insurance are tax free and usually continue until you recover or you reach your selected pension age/term of the policy.

Whole of Life

A whole life insurance policy covers you for your entire life, not just for a specific period such as term insurance. Whole of Life Insurance can serve different purposes:

  • Funeral Costs – To ensure your family do not need to fund your funeral costs when you die.
  • Estate Planning – When estate planning you may find that the taxman is entitled to part of your wealth due to the size of your estate. Whole of Life Insurance policies can offset your tax liability by paying out a tax free lump sum to cover the tax liability.
  • Dependents – To ensure your dependents are financially comfortable when you die.
  • Building and Contents – At Regent Street Advisers Limited we look to ensure your property is always fully insured. For your building and contents, you can request an adviser to discuss your requirements in a face to face meeting.
Regent Street Advisers Limited is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority.

Regent Street Advisers Limited Registered in England & Wales No. 10277458.

Registered Address: 19 Victoria Road, Barnsley, South Yorkshire, United Kingdom, S70 2BB

The Financial Conduct Authority do not regulate Buy to let Mortgages and Estate Planning

The information and content within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

Any external links that depart from the regulatory site of Regent Street Advisers Limited. Neither Regent Street Advisers Limited nor Quilter Financial Planning are responsible for the accuracy of the information contained within the linked site.