Financial protection has never been so important
Our experts could help you navigate your options with the aim of ensuring you get the right protection for your individual needs and ultimate peace of mind.
And we don’t take commission for getting you and your family protected so you’ll only pay the amount it costs for the insurer to cover you.
28% of Brits own personal protection insurance, but COVID-19 may persuade more*
50% with protection insurance say they chose to take it out for peace of mind*
46% say that affordability is a priority when choosing protection insurance*
37% say that buying your first home is a good reason to take out protection insurance*
Financial protection from the unexpected
The Coronavirus pandemic has taught us many lessons and we believe it’s highlighted the importance of protecting you and the ones you love.
That’s why at Schroders Personal Wealth we’re committed to helping you get protected, where appropriate, with support from our partners at Scottish Widows and Legal & General, as part of a personalised financial plan based on your individual needs.
*Source: Schroders Personal Wealth Opinium Report, February 2021
0% commission to protect you and your loved ones
We believe having the right protection in place can be the cornerstone of a holistic financial plan, yet is a need that is often overlooked. Thanks to our existing relationships with Scottish Widows and Legal & General we could help provide financial protection for you and your family.
But what makes us unique is that we won't charge you payment or commission when you purchase protection products.
Investing our time in you
By removing commission payments, the amount it costs for the insurer to cover you is the price you'll pay. It's important to us that we invest our time to help address the protection gap that exists in the UK today.
Plus, we employ our advisers so they're rewarded for meeting your needs, rather than selling products.
Some of the ways you can provide financial protection for your family
Life insurance
A life insurance policy could pay out if you die, leaving your loved ones money to support them financially, with different types of life insurance policies available based on your needs.
Critical illness cover
Critical illness policies are designed to pay out a lump sum on the diagnosis of a specified illness. This could be used for medical treatment, changes to your home or anything else you may need.
Income Protection
Income protection is designed to pay out a monthly income to replace a proportion of your earnings should you become too ill or injured to work.
Do you want to take control of how you pass on your wealth?
Family conversations around managing wealth in later life and passing it on to the next generation have never been so important. Estate planning could help you to pass on your wealth smoothly and efficiently, avoid family disputes, and manage the tax bill.
Understanding more about financial protection: Wealth lens
Are your protection policies up to scratch?
Everyone with family responsibilities or financial commitments should consider how they or their loved ones would cope financially should something happen to them.
What if something happened to me tomorrow?
Protection policies can be an important part of a financial plan. Here are five steps to follow that could help provide much needed comfort for your loved ones when you're gone.
Frequently asked questions about financial protection
What does ‘no commission charged on protection products’ mean?
Insurance brokers acting on their client’s behalf can be paid for their services in a number of ways. The most common way is a simple fee arrangement between the broker (us) and their client. The broker earns a commission, which is agreed with the insurer but taken out of the premium paid by their client.
At Schroders Personal Wealth, we won’t charge you any commission when you buy a protection policy. This means that the amount it costs for the insurer to cover you for life insurance, critical illness cover, and income protection, is the price you pay.
Can protection products reduce inheritance tax?
A life insurance policy could cover the cost of an inheritance tax (IHT) bill rather than it being paid from your savings or sale of assets when you die. Even better, if you place the policy in trust, it will be paid outside of your estate, therefore not incurring any further IHT.
The downside of placing your life insurance policy in trust is that it can be difficult to amend or remove from trust once it's set up. There are circumstances under which changes to the policy can be made but you may risk invalidating the cover. Certainly, it's best to consult your solicitor before making any alterations to your policy.
Life insurance is designed to pay out a lump-sum when you die. You can state that you wish your loved ones to use this money to pay part or all of the IHT when you die. This could provide valuable peace of mind that your family should be able to cope from a financial perspective when the worst happens.
Tax treatment depends on individual circumstances and may be subject to change in the future.
How do I know which protection product is right for me?
Your adviser will discuss your personal circumstances with you to understand the cover that you may need.
Let's start with a free initial consultation
We'll begin with a free, no obligation conversation to understand if our service is right for you. There are no hidden fees or charges, and you’ll only pay if you choose to go ahead with the recommendations in your personalised financial plan.