Going the extra mile to ensure clients get the life insurance and protection advice they deserve
At Asquith Financial Services a Colchester based mortgage and protection specialist covering the Essex and Suffolk area we are often asked what makes us different?
With over 30 years’ experience helping clients in Banking and financial services sector Neil Barsby Owner of Asquith Financial Services (AFS) gives his thoughts on what makes his business stand out from the crowd.
When it comes to life insurance-based protection products many customers are assisted by brokers who will use product sourcing software to find a product to meet their client’s needs.
Providers are typically sourced and ranked to assist a broker with finding the right product fit and meet their client’s needs.
This is typically produced and ranked by the cheapest premium available that will achieve the customers required or desired protection needs at the cheapest possible price.
This of course is all well and good when a customer is looking for life assurance to protect a defined need like a mortgage borrowing but there is so much more to providing a quality protection advisory service.
I often see that as soon as other products are considered as part of these policies or on a stand-alone basis it appears to me that sometimes finding a product at the cheapest monthly premium becomes all important and perhaps loosing site of why the protection is needed.
This is most apparent to me with Critical illness policies.
These types of policies provide protection and peace of mind to customers by paying them a lump sum in the event of diagnosis of a defined critical illness. This can provide peace of mind should they fall ill and could be used to clear a mortgage debt, make adjustments to the home and provide peace of mind around finances should this impact on your ability to work going forward. There are of course specific income protection policies to replace a regular income if required.
Often Critical illness policies are used as part of a mortgage protection product combined with life insurance and can often get viewed around cost rather than the quality of the product and protection this provides.
When it comes to Critical illness products it is often natural that the product is purchased with the end benefit pay out in mind to resolve financial issues rather than the main focus of the policy in my opinion which aside from the obvious peace of mind a financial payment may bring the product should equally be viewed as a vehicle to help you on the road to recovery.
Clearly all clients would want to give themselves the best chance of recovery, but I believe the benefits that be included in this policy can easily be overlooked.
At Asquith Financial services we focus on the quality of the critical illness product when providing advice to our customers not just the premium for the customer which of course still must be affordable.
Many critical policies will have enhanced benefits and bolt on products which can make a real difference to a customer should they need to rely on the policy.
Most critical illness policies will have standard illnesses they will cover and a clear definition of each of those specific conditions.
Often these definitions and illnesses that are covered can be different between the providers products. They will also cover core illnesses.
However, many providers offer enhanced products with significantly more illnesses covered and or increased cover terms often for very little more expenditure.
A number of providers will also provide for a small extra premium access to second opinion doctors who are specialists in their field giving you the best chance of identifying the exact condition and most appropriate treatment regime.
Many also offer counselling support for the policy holder and their family who will undoubtably be impacted by challenges a serious medical condition can bring.
At Asquith financial services when looking at the best solution to meet our client’s needs.
We focus on the quality of the contract when providing recommendations to our clients around Critical illness products.
If a client already has an existing policy in place, we will also review this policy to ensure it is still delivering the best possible protection for them. Often definitions can change over time as well as the types of illnesses covered in contracts. Sometimes these have improved over time but equally their existing policy may provide a more comprehensive level of protection than a new one.
If this is the case, we would advise to keep this cover in place. Our advice process will set out the differences for and against taking out a new contract either to top up cover or replace the plan or keep your existing cover in place.
Should you wish to review your protection needs you can contact us in any of the following ways-
Email- [email protected]
Website- www.asquithfinancialservices.co.uk
Tel- 033 3303 4230 or 07500 969167
IF THE POLICY HAS NO INVESTMENT ELEMENT THEN IT WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
THE POLICY MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. FOR DEFINITIONS PLEASE REFER TO THE KEY FEATURES AND POLICY DOCUMENT.
THE VALUE OF THE INVESTMENT CAN GO DOWN AS WELL AS UP AND YOU MAY NOT GET BACK AS MUCH AS YOU PUT IN.
FINANCIAL PROTECTION POLICIES TYPICALLY HAVE NO CASH IN VALUE AT ANY TIME AND COVER WILL CEASE AT THE END OF THE TERM. IF PREMIUMS STOP, THEN COVER WILL LAPSE.
At Asquith Financial Services a Colchester based mortgage and protection specialist covering the Essex and Suffolk area we are often asked what makes us different?
With over 30 years’ experience helping clients in Banking and financial services sector Neil Barsby Owner of Asquith Financial Services (AFS) gives his thoughts on what makes his business stand out from the crowd.
When it comes to life insurance-based protection products many customers are assisted by brokers who will use product sourcing software to find a product to meet their client’s needs.
Providers are typically sourced and ranked to assist a broker with finding the right product fit and meet their client’s needs.
This is typically produced and ranked by the cheapest premium available that will achieve the customers required or desired protection needs at the cheapest possible price.
This of course is all well and good when a customer is looking for life assurance to protect a defined need like a mortgage borrowing but there is so much more to providing a quality protection advisory service.
I often see that as soon as other products are considered as part of these policies or on a stand-alone basis it appears to me that sometimes finding a product at the cheapest monthly premium becomes all important and perhaps loosing site of why the protection is needed.
This is most apparent to me with Critical illness policies.
These types of policies provide protection and peace of mind to customers by paying them a lump sum in the event of diagnosis of a defined critical illness. This can provide peace of mind should they fall ill and could be used to clear a mortgage debt, make adjustments to the home and provide peace of mind around finances should this impact on your ability to work going forward. There are of course specific income protection policies to replace a regular income if required.
Often Critical illness policies are used as part of a mortgage protection product combined with life insurance and can often get viewed around cost rather than the quality of the product and protection this provides.
When it comes to Critical illness products it is often natural that the product is purchased with the end benefit pay out in mind to resolve financial issues rather than the main focus of the policy in my opinion which aside from the obvious peace of mind a financial payment may bring the product should equally be viewed as a vehicle to help you on the road to recovery.
Clearly all clients would want to give themselves the best chance of recovery, but I believe the benefits that be included in this policy can easily be overlooked.
At Asquith Financial services we focus on the quality of the critical illness product when providing advice to our customers not just the premium for the customer which of course still must be affordable.
Many critical policies will have enhanced benefits and bolt on products which can make a real difference to a customer should they need to rely on the policy.
Most critical illness policies will have standard illnesses they will cover and a clear definition of each of those specific conditions.
Often these definitions and illnesses that are covered can be different between the providers products. They will also cover core illnesses.
However, many providers offer enhanced products with significantly more illnesses covered and or increased cover terms often for very little more expenditure.
A number of providers will also provide for a small extra premium access to second opinion doctors who are specialists in their field giving you the best chance of identifying the exact condition and most appropriate treatment regime.
Many also offer counselling support for the policy holder and their family who will undoubtably be impacted by challenges a serious medical condition can bring.
At Asquith financial services when looking at the best solution to meet our client’s needs.
We focus on the quality of the contract when providing recommendations to our clients around Critical illness products.
If a client already has an existing policy in place, we will also review this policy to ensure it is still delivering the best possible protection for them. Often definitions can change over time as well as the types of illnesses covered in contracts. Sometimes these have improved over time but equally their existing policy may provide a more comprehensive level of protection than a new one.
If this is the case, we would advise to keep this cover in place. Our advice process will set out the differences for and against taking out a new contract either to top up cover or replace the plan or keep your existing cover in place.
Should you wish to review your protection needs you can contact us in any of the following ways-
Email- [email protected]
Website- www.asquithfinancialservices.co.uk
Tel- 033 3303 4230 or 07500 969167
IF THE POLICY HAS NO INVESTMENT ELEMENT THEN IT WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
THE POLICY MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. FOR DEFINITIONS PLEASE REFER TO THE KEY FEATURES AND POLICY DOCUMENT.
THE VALUE OF THE INVESTMENT CAN GO DOWN AS WELL AS UP AND YOU MAY NOT GET BACK AS MUCH AS YOU PUT IN.
FINANCIAL PROTECTION POLICIES TYPICALLY HAVE NO CASH IN VALUE AT ANY TIME AND COVER WILL CEASE AT THE END OF THE TERM. IF PREMIUMS STOP, THEN COVER WILL LAPSE.
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