On the surface protection can appear rather boring and is often overlooked by financial advisors in the pursuit of wealth management advice. It may even appear beneath some advisers who may outsource this to other lower qualified individuals. We look at all the products and choices available and recommend the ones most suited to your individual needs.

The two main types of protection are life insurance which comes in many forms and critical illness cover which pays out a lump of money if you are diagnosed with a potentially life threatening condition. There is a bewildering array of plans and it is never as simple as looking at premiums on a cost comparison website.

When we undertake a protection review it is sadly predictable that many existing contracts are not set up under the appropriate trust. As part of the overall financial planning process we can advise clients on aspects of trust planning and can place most existing cover into the correct trust without having to take out a new policy.

As with income protection, life insurance and critical illness cover should not be bought in isolation and should be considered as part of a protection package alongside existing plans and employment benefits.