Greenfields Financial Management

Family & Financial Protection

Protecting What Matters Most

Having the right family and financial protection in place ensures that you and your loved ones are safeguarded when it matters most. While it’s something you hope to never need, it provides invaluable security if the unexpected happens.

Finding the right cover can be overwhelming, but with our expert team at Greenfields Financial Management, you don’t have to navigate it alone. Whether you need life insurance, critical illness cover, income protection, or other support, we’ll help you find the most suitable protection at the best possible price.

Why Family & Financial Protection?

If you want to ensure your loved ones and business are cared for no matter what life throws your way, family and financial protection is essential. You work hard to provide for them now—so why not secure their future as well?

Think of it as a safety net beneath life’s tightrope. You hope you never need it, but if the unexpected happens, it’s there to catch you. A strong protection plan means you can focus on today, knowing that tomorrow is taken care of.

Future-Proofing Your Life

You probably insure your phone, laptop, or car—so why not yourself? Your health, income, and ability to provide for your family are invaluable. The earlier you put protection in place, the more affordable it can be.

Whether you need life insurance, critical illness cover, income protection, or a combination of these, we’ll help you build a plan that safeguards your loved ones, your business, and your long-term aspirations. It’s not about selling policies—it’s about ensuring you have the right protection to match your goals.

A Holistic Approach to Protection

With so many options available, choosing the right protection can feel overwhelming. That’s where we come in. At Greenfields, we take a holistic, client-focused approach—tailoring financial plans to your goals, not corporate interests.

We help you select the right cover, set up policies correctly, and ensure everything is structured for maximum benefit—including placing policies in trust where needed for quick access when it matters most.

Your financial future starts with a conversation

Our priority is helping you make informed decisions with confidence, knowing that your family’s future is in safe hands.

Why Family & Financial Protection Matters

Having the right protection in place ensures financial security for you and your loved ones, no matter what life throws your way. Here’s how it can help:
Peace of Mind

Feel confident knowing you and your family are safeguarded against life’s uncertainties.

Financial Security

Be prepared for unexpected events like illness, injury, or loss of income with the right financial support.

Protecting What Matters

Be prepared for unexpected events like illness, injury, or loss of income with the right financial support.

Income Protection

If an illness or injury prevents you from working, income protection helps keep your finances on track.

Tailored to You

Choose from a range of policies to create a plan that suits your needs, goals, and budget.

Why Family & Financial Protection Matters

Having the right protection in place ensures financial security for you and your loved ones, no matter what life throws your way. Here’s how it can help:
Peace of Mind

Feel confident knowing you and your family are safeguarded against life’s uncertainties.

Financial Security

Be prepared for unexpected events like illness, injury, or loss of income with the right financial support.

Protecting What Matters

Be prepared for unexpected events like illness, injury, or loss of income with the right financial support.

Income Protection

If an illness or injury prevents you from working, income protection helps keep your finances on track.

Tailored to You

Choose from a range of policies to create a plan that suits your needs, goals, and budget.

Let’s Clear Up Your Financial Protection Queries

We know that choosing the right protection for your family, income can feel overwhelming. That’s why we’ve put together this FAQ section to answer some of the most common questions about financial and family protection.

Whether you’re looking for life insurance or income protection, we’re here to help you make informed decisions with confidence.

Life is unpredictable, and unexpected events such as illness, disability, or death can have serious financial consequences. Insurance provides a safety net, helping you and your loved ones manage these situations by covering medical bills, lost income, and other expenses. Having the right insurance in place ensures your assets are protected and your family’s financial future is secure.

The main types of insurance for family protection include:

  • Life insurance
  • Critical illness insurance
  • Income protection insurance
  • Private medical insurance
  • Home insurance

Critical illness insurance pays out a lump sum if you are diagnosed with a serious illness covered by your policy. This payment can help with medical costs, time off work, and other financial commitments.

  • You pay a monthly or annual premium to the insurer.
  • If diagnosed with a covered illness, you receive a lump sum payout.
  • The payout amount depends on your policy and can range from a few thousand to several hundred thousand pounds.

Income protection insurance provides a regular income if you are unable to work due to illness or injury.

  • You choose a monthly benefit amount, usually a percentage of your pre-tax income.
  • If you are unable to work, the policy pays out a regular income.
  • Unlike critical illness insurance (which pays a lump sum), income protection offers ongoing financial support during long-term illness or injury.

A relevant life plan is a life insurance policy paid for by an employer, offering tax-free death-in-service benefits to employees of small businesses.

  • It provides life cover for employees who may not have access to group life insurance.
  • Premiums are tax-deductible for employers.
  • The payout is tax-free for the employee’s beneficiaries.
  • Consulting a financial advisor, such as our team at Greenfields Financial Management, can help determine if this plan is right for you.

The main types of insurance for financial protection include:

  • Life insurance
  • Critical illness insurance
  • Income protection insurance
  • Private medical insurance
  • Home insurance
  • Car insurance
  • Travel insurance
  • Pet insurance

To safeguard your business, consider:

  • Taking out appropriate insurance coverage.
  • Developing a business continuity plan for handling disruptions such as cyber-attacks or natural disasters.
  • Regularly reviewing and updating business policies to mitigate risks.
  • Investing in cybersecurity measures to prevent data breaches.
  • Creating an emergency response plan for incidents such as fires or security threats.

Key person insurance is a life insurance policy taken out by a business on a key employee or owner.

  • The business pays the premiums.
  • If the key person dies or becomes incapacitated, the business receives a lump sum payout.
  • The payout can cover recruitment costs, debts, or financial losses caused by the key person’s absence.

Shareholder protection insurance ensures business continuity if a shareholder passes away or becomes critically ill.

  • The policy pays a lump sum to surviving shareholders.
  • This allows them to buy the affected shareholder’s shares, preventing them from being sold externally.
  • Recommended for businesses with multiple shareholders, particularly where key individuals own significant shares.
  • Policies should be taken out individually by each shareholder rather than by the business itself.

To maintain business continuity, consider:

  • Developing a business continuity plan – Outlining steps to handle key personnel loss, maintain operations, and manage client communications.
  • Implementing a succession plan – Identifying potential successors and ensuring they are prepared for leadership roles.
  • Taking out key person insurance – Providing financial protection in case of a key employee’s death or incapacity.
  • Cross-training employees – Ensuring multiple employees can perform critical roles to reduce dependency on key individuals.

 

If you need help navigating these options, our team at Greenfields Financial Management is here to assist.

To choose the right coverage:

  • Identify your needs – Assess your financial situation, family’s needs, and future goals.
  • Research available options – Understand the benefits, costs, and terms of different insurance types.
  • Seek professional advice – A financial advisor can guide you in selecting suitable coverage.
  • Compare policies – Review different providers to find the best coverage and value.
  • Review regularly – Adjust your policies as your circumstances change.

 

If you’re unsure, our team at Greenfields Financial Management can help you select the most suitable protection.

Your coverage amount depends on:

  • Your financial situation – Consider your income, debts, and assets.
  • Future financial goals – Factor in plans like homeownership, education, and retirement.
  • Your family’s needs – Ensure coverage for mortgage payments, childcare, and daily living expenses.
  • Your business needs – Assess the financial impact of losing a key employee or owner.
  • Professional advice – A financial expert can provide tailored recommendations based on your situation.

Several factors influence insurance costs, including:

  • Age
  • Health
  • Occupation
  • Lifestyle
  • Coverage amount
  • Policy type
  • Length of coverage

To choose a trustworthy provider:

  • Ensure they are regulated and authorised by the Financial Conduct Authority (FCA).
  • Check customer reviews and ratings.
  • Consider their industry experience.
  • Compare policies and pricing.
  • Consult a financial planner, such as our team at Greenfields Financial Management, for guidance.

Got More questions? We’re here to help!

Whether you’re looking for details on how things work, what to expect, or general guidance, we’re here to help! Get in touch with our friendly team today!