WHAT WE DO
We ensure that you, your business and/or your family do not have to worry about finances should the unexpected happen.
If you’re a busy professional or you run your own business, either by yourself or with others, and you want to make sure that you’ve mitigated your financial risk in the event of death or illness, then welcome, you’re at the right place.
WHY WE DO IT
According to research 40% of SMEs would stop trading within a year if one of their key people was unable to work for an extended absence.
Recent statistics show that 1 in 4 people will suffer Critical Illness before the age of 65. Therefore it’s prudent to make sure you’ve got a plan in place if you, someone within your family or your key person in your business has their health impacted.
If anything happens to you or your family will your home and lives be ok financially? Will you have the ability to step away from work and focus on the family and recovery if needed?
IF YOU’RE A BUSINESS OWNER
Statistics show 65% of businesses are in debt.
Having the right agreements in place like a partnership agreement and Articles of Association go a long way to achieving a safe plan for your business, but you also need to consider how you’ll raise the funds for buying back shares, and/or repaying debt if one of the business owners falls seriously ill or dies.
Most entrepreneurs are exposed, while I recognise business protection is not the lightest subject matter and most people aren’t comfortable discussing it, business owners are at risk simply because they haven’t considered their situation.
As a protection advisory firm we’ve seen the difference that having adequate insurance plans in place has made to our clients during some of the most challenging times of their lives. We are driven to helping as many people as we can to make sure they’re properly protected.
We add value by ensuring you have tailored solutions set up for your personal needs, carefully selected from the whole of market. Getting your plans in place at the right price, for the right cover, and set up in the right way. This ensures at claim stage you or your beneficiaries avoid paying unnecessary taxes and that any benefits can be paid as swiftly as possible when needed.
Supporting your needs from initial discussions, through to application, underwriting, acceptance and regular reviews.
Then, if the worst does happen, you can focus on what needs attention, knowing that you have a financial safety net in place for you and your family/business.
You work hard, you care for you and your family, and for the sake of a few moments to review your business and your personal affairs, you can make sure that you’ve mitigated for any financial risk in the event of death, or serious/long term illness.
HOW WE DO IT
To mitigate your financial risk fully we’ll work with you to consider a number of factors if you’re a:
hidden
Business Owner/Limited Company/Partnership/LLP
- Your business will have a range of protection risks that we can help you identify and review.
- Have you agreed the current value of your business? If there is more than one business owner? Is there a plan in place on how these funds would be raised is a business was to die?
- When advising businesses, the key risk which has often been left unresolved is the risk to the business of its key people. What if a key person in the business falls ill or dies? What financial effect will that have on the business, its profits? The ability for the business to survive.
- As specialists in business protection advice Heath Protection advises companies of varied size and structure on how to plan for these risks in a business, and the most effective way for this insurance to be set up.
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Employed Clients
- We have extensive experience of dealing with clients who have a range of company benefits and want to incorporate these benefits into their overall protection plan.
- Navigating through employment benefits is complex, and employers can offer a range of benefits such as sickness cover, death in service benefits, private medical insurance and corporate opt in/out schemes.
- It maybe you are working for a company where you are only entitled to statutory sickness benefits, or a large corporate offering a range of protection options.
- It’s really important that you understand the insurance options you are entitled to here, and have thought about the limitations of employment offered benefits. What will happen if you change employment? What are the risks?
- When you take advice from Heath Protection Solutions we will help you to understand your corporate benefits as part of your overall protection plan.
Private Clients
- Protection planning for Private Clients is a complex area. Our expertise allows our clients to access the best protection solutions for them.
- We advise non domicile clients, and also those undertaking extensive International travel on the most suitable protection solutions for them. As a specialist firm we access a range of Insurers not available in the wider protection brokerage market.
- By helping clients source life assurance options based on our understanding of the insurance market, we can secure high levels of protection for our clients with access to bespoke products.
- As Naomi Greatorex, Director of Heath Protection Solutions has over 20 year’s experience in the specialist protection market, we are able to support our clients looking to structure high value insurance in the most tax efficient structure.
- Many of our Private Clients are introduced through Wealth Managers and Tax advisers, as our advice includes whole of life inheritance tax planning and insuring against the possible tax risks from lifetime gifts.
Family Protection
- Protection is a vital part of any family’s financial plan. Creating a financial safety net should the worst happen. If you have children and/or a mortgage there are risks to your family if you fall sick, are taken seriously ill or a parent dies.
- We help our clients navigate the best options to suit their family’s needs. This can include making sure there is support as an income or a lump sum if a parent dies, and that the insurance is set up into a trust so the benefit is paid quickly and to the beneficiaries intended.
- As we have access to all insurance products here our advice will include a full risk review and a range of protection options to cover the risks that you are concerned about the most.
Self-Employed Clients
- If you are a sole trader or an owner of a company it is vital that you get the right protection advice, from an experienced business protection adviser.
- There are a range of risks dependent on your business and its structure, these are important considerations that must be addressed if you want to protect your businesses future, and your income.
Sole Traders and Self-Employed Consultants
- If you are working for yourself as an individual the risk to you financially is your continued good health, this is something that no one can be certain of. If you fall sick or are in an accident what would happen next? How would you survive financially?
- As a business protection advisory firm we will help you review your options to protect your income and structure this with an insurer that specialises in protecting you in the most inclusive way and with the most competitive premium.
Discover how well you’ve mitigated yourself against financial risk in your business and personal affairs
and what to do next
ABOUT US
Naomi Greatorex is the Managing Director of Heath Protection. Following a successful, multi award winning, career spanning over a decade, working at a Senior Level for some of the largest UK insurers Naomi felt it was time to use her specialist knowledge to help clients directly.
In 2014 Heath Protection Solutions was born. Her business gives specialist protection advice to clients while working alongside accountants, wealth managers, mortgage brokers and other professional connections as a specialist consultant.
Protection advice can be complex, there have been huge changes in the products provided here in the last 10 years, particularly in the Critical Illness and Income Protection market and Naomi felt that clients needed guidance to make sure the products they buy are the most suitable. With changes occurring in the market place all the time, Heath Protection add the commitment of regular reviews to ensure sure the solutions recommended continue to offer the cover clients need.
- HOW MANY SME BUSINESSES WOULD CLOSE WITHIN A YEAR IF THEY LOST A KEY PERSON 40%
- HOW MANY PEOPLE WILL SUFFER A CRITICAL ILLNESS BEFORE 65 25%
INTRODUCERS
Working in Partnership
An Accountant is a key person that business owner(s) would be willing to listen to regarding their need for mitigating their business risk. By working in partnership with Heath Protection Solutions accountants can help their clients access specialist business protection advice.
Wealth Managers offer their clients a plan for the future, through pension and investment advice, however giving protection advice may be an area that they feel less of a specialist in. Increasingly financial advisers are moving away from giving protection advice due to frequently changing products and underwriting philosophies. We partner with wealth managers looking to offer their clients access to in-depth, specialist protection advice.
Mortgage brokers know the value of protecting the home for their clients, they have a responsibility to talk about protection, but due to mortgage volumes and increased compliance often find it difficult to find the time needed to dedicate to protection. Working in partnership with brokers offers the client the best of both worlds.
Lawyers working with private clients and business owners frequently identify the need for protection advice. Either to mitigate tax risks when succession planning with a family, or from a corporate perspective when advising businesses on shareholder agreements or business acquisitions. We work supporting lawyers here, offering a range of advice to mitigate the financial risks.
Naomi is also a truly inspirational leader and provides amazing help with our business consultation programmes, especially our business support initiatives for women where she has spoken fluently on what it is to run a female-led business and the associated challenges. On top this, Naomi is a delight to work with and is very personable and friendly – I enjoy our interactions every time we meet."
SOME PROTECTION FACTS
# OF TIMES PEOPLE ARE MORE LIKELY TO INSURE THEIR PETS THAN THEMSELVES
– Cirecenster Friendly Research
%
% OF PEOPLE WITH A MORTGAGE THAT HAVE INCOME PROTECTION
– Royal London State of the Protection Nation
%
% OF WOMEN WHO DO NOT HAVE ANY PROTECTION INSURANCE IN PLACE
– Canada Life, March
%
% OF PEOPLE THAT HAVE LESS THAN £500 IN RAINY DAY SAVINGS
– Salary Finance: ‘The Employer’s Guide to Savings Report’
PRESS & AWARDS
CONTACT US
86-90 Paul St, London, EC2A 4NE
0203 837 4941
Heath Protection Solutions Ltd
naomi.greatorex@heathprotection.co.uk
www.heathprotection.co.uk
Heath Protection Solutions Ltd (FRN: 654604) is an appointed representative of Richdale Brokers & Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.