Insurance & Protection

Insurance is there to ensure the life you have created for you and your family goes on, no matter what challenges come your way. By providing tailored solutions to safeguard your home, health, income, and financial future, we help you gain peace of mind knowing that you’re prepared for life’s uncertainties.

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Mortgages | Investments | Wealth Management | Pensions | Protection | Equity Release

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Protecting your assets

There are events we can all face that have the potential to wreck lives and families. It’s a difficult issue to think about, but imagine the impact on you and your family should the main

earner in your household die or become seriously ill. It may not happen to you – we hope it doesn’t – but it might.

We ensure you have the right level of protection to protect what matters. This includes your home, your loved ones, and yourself.

Understanding your unique needs

We take pride in offering a personal service that's tailored specifically to you and you only.

To recommend the right solutions for you, we will ask you the following:

You and your lifestyle

We'll ask you to provide us with information on your current circumstances, such as your income, outgoings, health, and savings.

Your current protection plans

We'll look at what protection you may have already, any employer protection, and any state benefits you may be entitled to.

Discovering potential gaps

We'll highlight any potential gaps in your protection needs that would mean you would be unable to pay for your essentials.

Finding your personalised solutions

Establishing the above will help us recommend solutions that offer the right cover for you.

Why protection is important

Financial protection is all about ensuring that your family's financial future is secure, regardless of life's uncertainties. It's a way to show care and responsibility towards those who depend on you financially.

Protection for you

A mortgage is likely to be the greatest financial commitment most people make. Your home relies on your income to repay the loan.

Events that could stop you earning enough to repay your mortgage are:

Short-term or long term illness

Redundancy

An accident

Death (yours or a partner)

Any of the above happening to a tenant in your buy-to-let

Ensuring your plans are sufficient

You may have plans in place already. We will check the following:

What protection you have already.

How sufficient your protection is.

How long will it last.

Should you need to build on your existing plans, we will always consider your overall objectives and budget.

Consider this example:

Take a typical non-smoking couple aged 40 for example; before they reach 65, they each run the following risks:

A 54% chance of being unable to work
for at least two months.

A 22% chance of becoming seriously ill.

Although we can't forsee or prevent life's unexpected events, having financial protection in place ensures
that you and your family are financially safeguarded. This crucial safety net can make all the difference in preserving
your home and maintaining your family's lifestyle during challenging times.

Please note, this research was originally conducted in 2019. The figures quoted are likely to have changed over time and should not be used as advice. It is intended for illustrative purposes only.

Source: LV= Risk reality calculator May 2019

Our Protection Services

We offer a range of protection services to safeguard you, your family, and your business. Whether it’s income protection, critical illness cover, life insurance, or business protection, our expert advisers provide tailored advice and work with top providers to ensure you get the right coverage for your needs.

Business Protection

Protecting your business from unforeseen challenges is crucial to ensuring its long-term success. We specialise in providing tailored business protection services, from safeguarding key individuals to securing financial stability in uncertain times. Our expert advisers work with a range of providers to find solutions that suit your needs, giving you peace of mind and the confidence to focus on growing your business.

Business Protection >

Income Protection

Maintaining financial stability during unexpected challenges is essential, and we specialise in helping clients secure tailored income protection solutions. Whether you're self-employed or employed, our expert advisers work with a range of providers to find policies that suit your circumstances, ensuring you have peace of mind knowing your income is protected if you're unable to work.

Income Protection >

Critical Illness Cover

Critical illness cover provides financial support when it's needed most, helping to ease the burden of serious health challenges. We specialise in finding tailored solutions that suit your needs, working with a range of providers to ensure you and your loved ones have the financial protection and peace of mind you deserve.

Critical Illness >

Family Income Benefit

Family Income Benefit ensures your loved ones are financially supported with a regular income if the unexpected happens. We specialise in finding tailored solutions that suit your needs, working with a range of providers to give you peace of mind knowing your family’s future is secure.

Family Income Benefit >

Life Insurance

Life insurance provides essential financial support to your loved ones when they need it most, offering peace of mind that their future is secure. We specialise in finding tailored life insurance solutions, working with a range of providers to ensure your family is protected, no matter what lies ahead.

Life Insurance >

Mortgage Protection

Mortgage protection ensures your home is safeguarded by covering your mortgage payments if the unexpected happens. We specialise in finding tailored solutions, working with a range of providers to give you peace of mind that your home and loved ones are financially secure.

Mortgage Protection >

Whole of Life Insurance

Whole of life insurance provides lifelong coverage, ensuring that your loved ones are financially supported no matter when the unexpected occurs. This is particularly suitable to cover against inheritance tax. We specialise in finding tailored whole of life solutions, working with a range of providers to give you peace of mind that your family’s future is protected for the long term.

Whole of Life Insurance >

Buildings & Contents

Buildings and contents insurance offers comprehensive protection for your home and belongings, giving you peace of mind in case of damage, theft, or unforeseen events. We specialise in finding tailored solutions to suit your needs, working with a range of providers to ensure your property and possessions are fully covered.

Buildings & Contents >

Gift Inter Vivos

Gift inter vivos refers to a gift made during a person's lifetime, rather than through a will or estate plan. This is particularly suitable to cover against inheritance tax. Whether it's a financial contribution, property, or assets, we can help guide you through the process of making these gifts in a tax-efficient way, ensuring they align with your long-term financial goals and provide support to your loved ones when needed.

Gift Inter Vivos >

Whether you prefer a local adviser visiting you in person or a remote consultation by phone or video call, we tailor our service to meet your needs, wherever you are in the UK.

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Award Winning Network

Beals Wealth Management are proud to be part of Quilter Financial Planning, an award-winning network celebrated for its outstanding customer service, innovative platforms, and exceptional financial strength.

Recognised for Service

FT Financial Adviser Service Awards 2024 - Five Stars (Platform, Pension, Investments)

Defaqto - Gold Service (Platform, Pension, Investment Bond)

Investment Life & Pensions Moneyfacts Awards 2024 - Best Online Service

Highly Rated Products

Defaqto - 5 Star rating (Platform, Personal, Pension, Drawdown & Onshore Bond)

Defaqto - 5 Diamond rating (WealthSelect, Monthly Income, Cirilium Blend, Cirilium Passive and Creation)

Money Marketing Awards 2024 - Best Retirement Provider

Exceptional Platform

Member of The London Institute of Banking and Finance

Schroders UK Platform Awards 2024 - Platform of the Year

Investment Life & Pensions Moneyfacts Awards 2024 - Best Wrap/Platform

Frequently Asked Questions

What is life insurance, and how does it work?

Life insurance is a policy that provides a financial payout to your beneficiaries if you pass away during the term of the policy. It helps cover debts, mortgage payments, and living expenses to protect your loved ones from financial hardship. You pay regular premiums, and in return, your insurer provides the agreed-upon sum if the insured event occurs.

Why do I need income protection insurance?

Income protection insurance offers financial support if you're unable to work due to illness or injury. It typically provides a monthly income to cover essential living expenses, allowing you to focus on recovery without the stress of lost earnings. It’s especially valuable for self-employed individuals or those without a robust employer sick-pay scheme.

What is critical illness cover, and what does it protect against?

Critical illness cover pays a lump sum if you're diagnosed with a serious illness specified in your policy. Commonly covered conditions include cancer, heart attacks, and strokes. The payout can help with medical expenses, mortgage repayments, or lifestyle changes required after your diagnosis.

What is the difference between life insurance and mortgage protection insurance?

Life insurance provides a payout to your beneficiaries for general financial support, while mortgage protection insurance is specifically designed to pay off your remaining mortgage balance if you die. Both can be important depending on your financial situation and goals.

Do I need both life insurance and critical illness cover?

It depends on your personal needs. Life insurance protects your loved ones financially if you pass away, while critical illness cover provides a payout if you're diagnosed with a severe illness. Many people combine these products for comprehensive protection against life’s uncertainties.

How much life insurance cover do I need?

The amount of cover depends on your personal circumstances, including your mortgage balance, outstanding debts, family’s living expenses, and future financial plans. It’s advisable to speak with a professional adviser to calculate the right level of coverage for your needs.

What factors affect the cost of insurance premiums?

Insurance premiums are influenced by factors such as your age, health, lifestyle, occupation, and the amount of coverage you require. Smokers and those with pre-existing health conditions typically pay higher premiums.

Is insurance protection tax-deductible?

Some insurance policies, like life insurance written in trust, can have tax benefits. However, tax treatment depends on your individual circumstances, and it’s best to consult a protection adviser or tax professional for specific guidance.

Can I change or cancel my insurance policy later?

Yes, most policies allow for changes or cancellations, but it’s important to understand the terms of your specific policy. Cancelling your policy could leave you without protection when you need it most.

How can I find the best insurance policy for my needs?

Working with protection adviser can help you find tailored insurance solutions. Advisers can compare policies from different providers, ensuring you get the best coverage and value for your money.

Can I have more than one insurance policy?

Yes, you can hold multiple insurance policies to cover different needs. For example, you might have life insurance, critical illness cover, and income protection at the same time. It’s important to review your coverage regularly to ensure there are no gaps or overlaps in protection. Consulting a financial adviser can help you coordinate your policies effectively.