Protection

Protecting Against The Unexpected

You Can't Predict The Future

There are a number of reasons why you may consider looking into financial protection and it comes with two factors in mind. To either protect yourself or the people around you, such as your family, friends or colleagues.

The most common reason is to provide for your family encase of your sudden death or illness and being protected or having protection in place, gives you the peace of mind that your family will be financially secure, whatever the future holds in store.

But You Can Secure It...

Another common scenario is that protection allows you to maintain your existing lifestyle and enable you to make any debt repayments if you take ill and become unable to work.

Another area, which can be a bug bearer for families is inheritance. Seeking protection around inheritance can cover a future Inheritance Tax payment without the need of selling a family home.

When speaking about protection, it comes in the guise of Insurance policies and typical examples would be Life Insurance, Income Protection and Critical or serious illness cover.

Our 3 Areas Of Protection

Casestudy

Securing our family and securing our legacy is our highest priority

Background

Our clients, business owners were concerned that they had not provided for their family in the event of his death and/or illness. They have 2 children under the age of 10 and rely on their business for their family income.

The biggest concern they had was that their 2 children would not be secure financially if they both passed away. Another concern was that if they became ill, that they would become a financial drain on the business first and then their children long term as the state welfare coverage was too small to cater for their long-term care.

They also felt that their employees would suffer if something happened to them.

Key Needs

Family Protection Life Assurance in the event of death
Family Protection Specified illness to cover illnesses with a lump sum
Income Protection to cover long term income care until retirement age
Keyperson Business Life Assurance to ensure that the business can carry on trading in the event of a key director passing away

Solution Provided

After reviewing the clients current financial position along with their personal and business assets we made recommendations to our clients to ensure that they and their family had sufficient cover in place to look after their children in the event of their death and/or specified illness. We also recommended long term care on their income until retirement age so that they could continue to take an income from the business if something unexpected happened to them.

From a business perspective, along with recommending keyperson life assurance we also put in place retirement plans for our clients. This is to start extracting wealth from their business. We also recommended a company savings account to ensure a business emergency fund was put in pace to secure the employees income and potentially a fund to extract on our clients retirement in a tax efficient manner.

We connected our clients with our legal partners so that they could put in place a Will and an Endouring Power of Attorny to protect their estate and legacy.

What Our Customers Are Saying

I am delighted to work/partner with Alan and the team at Castle Capital for both pension and other financial planning. I’ve previously worked with Financial advisors in the UK and Ireland who were quick to use my requirements to help them in their own targets with suppliers, and thus in the past I was paired with the incorrect solutions, not bad ones, just not right for me. In total contrast to feeling unhappy and confused, I felt completely at ease working with Alan and felt confident taking his advice. He took the time to explain the little things and help me understand anything I was unsure of, even when I know I had him repeating himself. Alan provided great detail on a range of options, even ensuring I had visibility on options that may not suit now, but in the future. He is very honest and had an incredible level of patience as it took me quite a while before I was ready to commit to options, and there was never any pressure from Alan or the team. I’m really pleased with my choices to date, the options Alan proposed, and look forward to continuing to work with them as new requirements or changes are needed.

Luisea.

Clare

+353 (0) 61 513 059

info@castlecapital.ie

Monday – Friday: 9:00 to 17:30

Castle Capital Ltd, The Mulcair Centre, Annacotty Business Park, Annacotty, Co Limerick.