Objections- Protection

: Protect and Prosper - Insurance; 06 November 2023

1. Parents will help me - I´ll move back with my parents and sell up. Do they have a lot of savings? Would you want that money to be used when it could / should be used for their own retirement?

Are your parents prepared to cover all costs (mortgage, childcare, utilities etc)?
Do you want your parents to take on your responsibilities?
Would you want your parents to spend their money on you when they could be enjoying retirement?
Would you really want to live with your parents again? Would they really want to live with you again? After working so hard to get here
Would you really want to lose your independence and your hard-earned home for the sake of a gamble?
Have you thought what would happen if your parents weren't there or couldn't help you when you needed it most?
You've spent so long providing your own home, do you really want to have to give it up and all the time be thinking I wish I'd listened to my adviser?
Without a crystal ball, you could be selling at the mercy of the market, and just as importantly, your need to release yourself from your liabilities could force you to sell at the wrong time and the wrong price.

2. State will provide

The state will only give you £109.40 per week for up to 28 weeks. I am sure you will agree they cannot be relied upon to maintain your lifestyle should the worst happen.
Have you had experience where someone has been supported through all their bills and mortgage by the state?
Have you ever looked into state benefits in detail ? Let us explain them to you and what you may be entitled.

3. Too young / healthy

Do you realise that the older you are before sorting, the more expensive this will become? 
The average claim for a Critical illness is 43, we're looking at 25+ years for your mortgage and we're also looking at guaranteeing no premium cost increase.
Better to have and not need that to not have and need. We don't have a crystal ball for the next 25 years. Costs are so much less the younger you are. Great you're fit and healthy, but no one can see the future..

4. I will do it myself online

Cheapest isn't necessarily the best.
FOL WEALTH can give you a personal recommendation while you're here as to what you will need.
We are here to provide advice and recommendation. The advice is free and something you can't get by going direct.
We can make sure that all information is correct, not just at application but at claim to make sure all is disclosed.
We're here to help you with advice, the arranging and should you need, claim. It's not just for now, it's for the long term.
We can help and advise you with it all so that there are no mistakes. offer you an advised sale for peace of mind.

5. I´m self employed - i will still get my income

We don't know what's around the corner, will the rest of the staff support you?
Can you carry on the business through a long-term health issue or if you're housebound?
Are you not the business though? Without you it will fall apart.
I'm sure if you had something that was affecting your business then you would pay for that, so why not look at this as a potential employee payment, just that the employee comes in to pay for you should you be off ill.

6. You won´t pay out:

We use a panel of providers who all pay out in excess of 94% of the time.
If we ask the medical questions and go through them together, we can make sure that everything is covered and there will be no non-disclosure. A large percentage of claims not being paid is due to non-disclosure.
We have the "Confirm your Details" form, that means that should you think of anything else that may be relevant, then it can be added.

7. Too expensive:

Let's look at your overall costs Vs your current costs.
If you can't afford this, are you really sure that you can afford the mortgage?
We only recommend 5 stars Defaqto products.
I know you understand the importance of the protection, this will cover large amounts for the long term.
A small price to pay for peace of mind.
The premium is not the problem, the premium is the solution.

8. Already sorted:

Your needs may well have changed since then, let's take a look at what you need right now and see how that compares.
How often has it been reviewed? When was the last time it was reviewed?
It may well be ok, but it's our job to make sure.

Still not sure? Speak with any of our protection specialist or our Chartered Financial Planner, Abi Ladele, who will be happy to help you prioritise your current existing commitments.

Financial Protection for Millennials

: Protect and Prosper - Insurance; 22 October 2023

New Job? - No worries!.............. So it’s your first day – congratulations!

You’re all set, and no need to worry about money. Not unless you get sick. Ill health can happen to anyone, any time.

With a little forward thinking, you can prevent ill health taking too much of a toll on your finances. Income protection could provide you with an income if you’re too ill to work. Take the pressure off your health so you can focus on your new job. To find the best way to protect your income, talk to us about how you can obtain the necessary financial protection.

Just moved in? Job done

Well not quite. Have you considered how you’d pay the bills if you were too ill to work for a while?

Ill health can happen to anyone, any time. In 2021, an estimated 149.3 million working days were lost through sickness absence or injury in the UK*. Income protection could provide you with an income if you become too ill to work.
Money’s tight and you’ve got debts to pay off. So that insurance policy might seem too extravagant. Think again. Income protection could provide you with an income if you’re too ill to work. How else would you plan to pay your credit card bills? Don’t let debt payments pile up if you’re seriously ill and can’t work.
Protect your income to help pay the rent if you’re ill. To find the best way to protect your income, talk to us today about how FOL Wealth can offer you a wide range of tailored and accessible solutions.

*Source: Office for National Statistics, Sickness absence in the UK labour market: 2021 - April 2022.

Got three month of pay stashed away?

How can you avoid getting into difficulties if you can’t work? Let’s face it, savings are someone else’s luxury and you’re not a planner. But if you were too ill to work, how would you cope financially? Income protection could provide you with an income should that happen. To find the best way to protect your income, talk to us about how you can obtain the necessary financial protection.

Cutting your cloth?

Money’s tight and you’ve got debts to pay off. So that insurance policy might seem too extravagant. Think again. Ill health can happen to anyone, any time. But income protection could provide you with an income if you’re too ill to work. How else would you plan to pay your credit card bills? Don’t let debt payments pile up if you’re seriously ill and can’t work. To find the best way to protect your income, talk to us about how you can obtain the necessary financial protection.

Planning for the big day?

It’s great to think about the best day of your life. But have you ever wondered how to prepare for the worst? It’s not something we like to talk about, or even think about, but ill health can happen to anyone. And when you’re too ill to work, the last thing you’d want to worry about is where the money’s going to come from. Income protection could provide you with an income if you’re too ill to work. Make sure you’ve got all your days covered, for better or worse. To find the best way to protect your income, talk to us about how you can obtain the necessary financial protection.

Family Protection

: Protect and Prosper - Insurance; 08 August 2023

Cover the Good days

At a time of loss, the last thing a family needs is their daily routine upset because of financial worries.

Taking out life cover could leave your family in a better position to be able to afford the everyday things they’re used to. Because if money’s really tight all the things that made life special while you were still around, could be threatened for years to come.

Family holidays

After school activities

Days out

So don’t take a rain check on life cover. After all it could help protect the lifestyle of those you love.

Just married for better or for worse

We wish you nothing but the best. But how would you manage if you found yourselves facing the worst?

That’s where life or critical illness cover comes in. It helps protect you both by paying out if one of you were to die or get an illness you’re insured against,* whichever happens first while you’re covered by the plan. £50,000 of life or critical illness cover could cost just a little over £25 a month.¹

And with peace of mind like that, you can concentrate on building a wonderful life together.

Could you still shop if you had to stop?

If you had a serious injury or were too ill to work – how would you pay for your weekly shop or meet your bills every month?

Your employer might give you sick pay, but how long would that last? And while there are state benefits, they don’t amount to much.

£109.40 a week

What you can expect from Statutory Sick Pay.²

£69.20 a week

The weighted average weekly household spend on food and non-alcoholic drinks.³

If you can’t work because of illness or injury, income protection could give you a monthly income to help you and your family cover the essentials.

To make sure you’re not left short, talk to your adviser about income protection today.

Planning for the big day?

It’s great to think about the best day of your life. But have you ever wondered how to prepare for the worst?

It’s not something we like to talk about, or even think about, but ill health can happen to anyone. And when you’re too ill to work, the last thing you’d want to worry about is where the money’s going to come from. Income protection could provide you with an income if you’re too ill to work.

Make sure you’ve got all your days covered, for better or worse.

^{Source:
1 Royal London Personal Menu plan, December 2021. £25.84 based on a 29-year-old non-smoking couple, 25-year term, level lump sum, no children’s critical illness included, including £2.60 plan charge.
2 www.gov.uk, July 2023.
3 Weighted average weekly household spend on food and non-alcoholic drinks in the UK is £69.20. Office for National Statistics, figures for 6 April 2020 to 5 April 2021. Please note that state benefits are changing, depending on where you live in the UK you may be entitled to different benefits – visit www.gov.uk for more information.}

An Intro to Business Protection

: Protect and Prosper - Insurance; 09 August 2023

What would have the worst effect on your business?

1. Your business mobile phone is stolen
2. The photocopier breaks down
3. Your premises are broken into and vandalised
4. A business vehicle is written off
5. Your co-owner has a heart attack

You probably have insurance to cover four of these situations. But what would happen to your business if the worst thing on the list happens - and your co-owner suffers a critical illness? Would your business still be able to meet its obligations?

Business protection is an important part of the financial planning process for your business. It can help to pay off business loans, provide cover for key employees or help to make sure the remaining business owners keep control of the business. But unfortunately, it´s one area that´s often overlooked.

Business Loan Insurance

According to the Financial Conduct Authority (FCA) financial Live 2020 survey, before Covid-19, use of credit was high. Most (85%) adults held at least one credit or loan product, up from 78% in 2017. A quarter (26% or 13.4m) had been overdrawn at some point in the previous 12 months, while 5.6m held a high-cost loan at the time of interview or in the previous 12 months.

Usage of FCA-regulated credit or loan products peaked for adults in their mid-20s to mid-40s. An astonishing 58% of small businesses don´t have any cover in place to repay it if the worst should happen.

- Do you have a loan account for your business?
- Have you provided a personal guarantee for a business loan?
- Does your business have an overdraft or any other debt?
If you answered yes to any of these questions, have you thought about what would happen if your business couldn´t

repay these debts? A business protection plan could be a great way of helping to repay business loans if a shareholding director or partner dies or can´t work because of a critical illness.

Relevant Life Plan Insurance

If you have a successful business that you´ve worked hard to build, you´ll want to protect it.

Did you know that because you´re a director of your own company, your life cover could give tax benefits as well as peace of mind that your family would get a payout if the worst should happen? If you´re paying for life cover from your own bank account you´ll be paying out of post-tax income. And if you pay for it from your business account you´ll probably be taxed on the payment as if it were income.
Larger companies avoid this tax by providing life cover for employees through a registered group life scheme. You can take advantage of the tax benefits larger companies get by taking your life cover out through a relevant life plan.

These are open to all companies no matter how small, and you could also provide life cover for your employees even if you only have a few. With this type of plan, the cover won´t count towards the pension lifetime allowance and can free up your clients to maximise their pension investment. And with typical multiples of 15 to 20 times salary, depending on the age of the life assured, your clients could get a higher level of cover.

What is relevant life insurance?
Relevant life insurance is an insurance policy that a business can take out to provide life insurance for an individual employee.

Who is it suitable for?
Those who run or work for a business that does not provide a group life insurance scheme (perhaps because it is too small to qualify for one), but would like the business to arrange life insurance as an employee benefit in a tax-efficient manner for themselves or another individual employee;
Those who run or work for a business which does provide a group scheme, but would like to arrange additional life insurance that doesn’t count towards any annual or lifetime pension allowances (this may be of particular interest to high-earning employees who may be near their pension limits);

Partnership (LLP) Insurance

Financial protection is an important part of the financial planning process for your business. And unfortunately, it´s often overlooked.

We know the benefits of personal wills - they make sure the money goes to the people you´d want to have it.
But have you done the same for your business.

What would happen to your business if a partner or member became critically ill or died?
This could cause serious financial problems. For example:
- Your business may have to run without one of the key people who contribute to its success - The partner or member might be off work for a long time. But they may still expect to get an income from your business despite being unable to contribute.
- You may need to find and train a temporary replacement which could mean paying two salaries instead of one.
- The partner or member might want to sell their interest in the business if they decide not to return to work. Would the other owners be able to buy them out?
Would their family get a fair value?
Would you want their family to get profits from the business when they are not contributing to running it?
Would the bank lend your business money if it was in financial difficulty perhaps due to the loss of a partner or member?

Don´t leave it to chance. We can help you take the first steps to protect your business.

Business protection can pay out on the death of a partner or member. And a legal agreement can make sure the payout will be used to buy the share of the business from their estate.

A similar payout can be made if one of the partners or members suffers a critical illness.

Shareholder Insurance

Think of all the valuable assets that belong to your business - machinery, premises, equipment, supplies, and technology.
Most companies make sure they´ve protected valuable assets from fire or theft - but many don´t consider the financial value of their people.
What would happen to your business if a majority shareholder became critically ill or died? This could cause serious financial problems. For example:

Your business may have to run without one of the key people who contribute to its success.
The shareholder might be off work for a long time. But they may still expect to get an income from your business despite being unable to contribute.
You may need to find and train a temporary replacement - which could mean paying two salaries instead of one.
The shareholder may want to sell their shares if they decide not to return to work. Would the other shareholders be able to buy them out?

Don´t leave it to chance. We can help you take the first steps to protect your business.
Business protection can pay out on the death of a shareholder. And a legal agreement can make sure the payout will be used to buy the shares of the business
from their estate.

A similar payout can be made if one of your shareholders suffers a critical illness. Many companies overlook protecting the business from the financial impact of losing a shareholding director or key employee through death or critical illness. But it should be a priority.

If you would like to discuss the benefits of Shareholder Protection with us in more detail, contact Abi Ladele or our admin at This email address is being protected from spambots. You need JavaScript enabled to view it.