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Insurance.

Peace of mind at Balance Wealth.

Insurance.

Peace of mind at Balance Wealth.

We are not insurance advisers, but as part of the advice we give, we will ensure that you have the insurances you need in place. This could involve just checking your policies, working directly with your insurance broker, or referring you to someone for a more comprehensive review.

We will consider:

  • General insurance – Car, houses, other vehicles etc.
  • Life Insurance – which pays out in the event of death. We come across a lot of clients who have an old policy in place which was taken out to cover a mortgage which no longer exists. Sometimes, this insurance is no longer needed, so we will discuss this with you.
  • Income Protection – This is only applicable when you’re working and under the age of 65 generally. Again, a review of what you have can be helpful.
  • Trauma / Critical Illness – these policies pay out in the event of certain injuries or illness whilst you are alive. We find clients with old and irrelevant policies which are no longer required, or which need to be updated.
  • Medical Insurance – these policies cover ongoing medical costs during your lifetime and get more expensive (but often more valuable to you) as you get older. Weighing up the benefits and costs of keeping policies versus choosing to self-insure is something we do a lot with clients. Sometimes, amending the policy slightly can save quite a bit of money and mean that it can be kept for longer. Sometimes, pre-existing conditions or family medical history mean that ensuring the premiums of a policy can continue to be paid throughout your lifetime is the most vital part of a client’s income planning. Everyone is different and has difference priorities.