Protection

Insurance Products

Plan today, relax tomorrow.

As much as it is important to buy your own dream home, it is just as essential to keep it for you and your family and maintain your family’s lifestyle. Knowing that you and your family are financially protected will give you peace of mind, if the unexpected happens.

There is a range of factors to consider when it comes to arranging a tailored insurance policy for you, some of these are:

Policy term – is the period for which the insurance policy will provide coverage. If the insured dies during the specified time during the term of the policy while the policy is active, only then a death benefit will be paid.

Sum assured – is the amount of coverage payable to the policyholder or beneficiary on the occurrence of an insured event such as death, critical illness, or disability, in return for paying regular premiums to the insurance provider.

Type of cover:
- Level – the sum assured amount stays the same throughout the agreed policy term.
- Decreasing – the sum assured amount reduces each year. This type of policy is usually designed for repayment mortgages, where the outstanding balance decreases over time
- Increasing/ Indexation – the sum assured rises each year in line with any increase in the Retail Price Index (RPI) over the agreed policy term. In return, your insurance premiums will increase too.

Premium type:
- Guaranteed premium – is the amount you pay to service your insurance policy will remain the same throughout your policy term unless you choose increasing type cover.
- Reviewable premium – this is where your premiums are reviewed every five years and may go up, go down or stay the same. If you choose to not accept the new premium, you can reduce the amount of cover to match what you wish to spend.

Waiver of Premium – is an optional feature by insurance providers, where they will pay your premiums for you in the event you cannot work due to illness or injury. They usually do this until your policy ends, or until you go back to work or are no longer ill or injured or up to a certain age (this varies across different insurers). Once your waiver claims end, you will have to resume paying for your premiums to keep your policy active.

The products we provide.

Life Insurance

Life insurance is designed to reassure you that your loved ones will be financially looked after, in the event of your death. Policies such as Mortgage Protection can help pay off your outstanding mortgage balance in the event of death or terminal illness, whilst your policy remains active.

Whole of Life Insurance

Whole of life insurance is a life insurance policy that guarantees your family get a payout when you die. It covers for your peace of mind that your loved ones will have financial security no matter what. Unlike, life term insurance which remains valid to a certain agreed policy term..., whole of life insurance only ends once you die. This type of insurance can be particularly useful to fund funeral costs.

Critical Illness Cover

Human lives are particularly fragile as we grow older and are more likely to be diagnosed with critical/ serious illnesses or injury than to die. Critical illness cover offers protection by usually paying out a one-off tax-free lump sum if you are diagnosed with one of the illnesses... or injury stated in an insurer’s critical illness policy terms & condition.

Income Protection

One of the biggest fears homeowners have been lender’s repossessing their home when they cannot pay their mortgage on time because they are unable to work due to illness or accident. One of the simplest ways to cover loss of earnings is by taking out income protection cover.... Income protection policy pays out a regular tax-free replacement income if you are unable to work due to sickness, accident, or injury until you can work again, or until you retire, die, or the term of the policy expires. This aims to help safeguard your financial commitments while you are out of work.

Business Protection

Business protection can help protect businesses from financial effects of key people such as business owners or employees being diagnosed with a critical illness or being unable to work due to disablement or dying. This type of insurance is available for sole traders, shareholders, directors..., limited liability partnerships and key employees. Thus, giving your company reassurance & long-term stability should something happen to them, because without its people, a company’s survival is at risk.

Private Medical Cover

Private medical insurance policy will provide you with fast access to high-quality private medical facilities and will include medical treatments when and where it suits you. This can be from private GP appointments to cancer treatments. It also plays a very important role as it will help fund... the costs of any early diagnosis and treatment for some conditions subject to the insurer’s policy.

Placing your insurance policy into a trust.

A trust is a legal arrangement that allows the policyholder to gift something of value to other people (trustee) without losing full control and legal ownership of it. The settlor (policyholder) can transfer legal ownership of an asset to someone i.e. the trustee, who will look after the asset and can use it only for the beneficiaries the settlor has decided to benefit from.

You can arrange the Trust in two ways:

Absolute Trust – this allows you to finalise your beneficiaries at the start but can never change them thereafter.
Discretionary Trust – gives policyholder the flexibility to include more or change the beneficiaries in the future. And provides your trustees the discretion to share out the money to the list of beneficiaries only according to the policyholder’s wishes.

Benefits of writing your insurance policy into a trust can protect your beneficiaries from inheritance tax and help to avoid probate process, so it can be paid out more quickly upon successful claim.

At Triton, our protection advisers will listen to your wants and needs, and if you decide a trust is right for you, we will place all your insurance policies into a trust for free of charge. Our objective is to provide you with as much value as possible, so that you can plan robustly and have peace of mind for you & your family.

Here's how Triton can help with your protection.

Our Protection Brokers understand that preparing for the worst can be daunting. We help you prepare for the worst scenarios, making sure you have the right financial support. We know there is a spectrum of insurance policies to consider and can be difficult to understand which one is the right one for you. It is for this reason that our experienced Protection Brokers are continually reviewing the market to provide you with a stress-free process, so you are receiving the right advice.

Our brokers will discuss your personal circumstances in order to design a bespoke insurance package to suit you & your family’s needs and help you decide the most suitable cover(s) for you.

Want to speak to our Advisers?

We work with a whole range of clients, so whatever your requirements are, get in touch and we’ll be able to assist you.