Protection
Income protection provides a regular replacement income if you cannot work due to illness or injury. It helps cover essential outgoings such as rent, bills, and mortgage payments, ensuring you stay financially stable while you recover.
This type of policy is especially valuable for self-employed income protection needs, where there is no employer sick pay or financial safety net. For many clients, income protection acts as a personal financial shield, offering monthly support until you return to work or until the policy term ends.
There are different levels of cover, including:
- Short-term income protection (typically up to 12–24 months)
- Long-term income protection (pays until retirement or recovery)
- Payment protection insurance (PPI) for more limited short-term needs
- Salary protection insurance designed to safeguard a percentage of your earnings
Policies vary in waiting periods, exclusions, and the level of income they replace. Understanding the fine print is essential.
At Richmond Financial, we compare leading UK insurers to help you find the right plan for your budget and lifestyle. Our advisers explain how each policy works, what it covers, and which option offers the strongest protection for your income.
Life insurance provides a tax-free lump sum to your loved ones if you pass away, helping them manage living costs, debts, or future financial needs. It is one of the most important ways to protect your family from financial hardship.
We advise on all major types of life insurance UK policies, including:
Term Life Insurance (Life Policy UK)
Provides cover for a fixed period, such as 10–30 years. Ideal for family protection or covering financial commitments.
Whole-of-Life Insurance
Covers you for your entire lifetime, paying out whenever you pass away.
Decreasing Term Life Insurance
Cover reduces over time, often used as insurance for life UK homeowners who want a policy that aligns with their mortgage balance.
Choosing the right life policy requires understanding your financial responsibilities, dependents, and long-term goals. Our team at Richmond Financial will help you assess your needs and select tailored life insurance that provides genuine peace of mind.
Critical illness cover pays a tax-free lump sum if you’re diagnosed with a major medical condition such as cancer, heart attack, or stroke. This helps with:
- Medical treatment costs
- Income loss
- Mortgage or rent payments
- Household bills
- Lifestyle adjustments
Unlike income protection—which pays monthly—critical illness insurance offers a one-off lump sum on diagnosis of a listed condition.
Our advisers help you understand the differences between policies, the number of conditions covered, and what level of cover suits your situation. We make the application process simple and support you from start to finish.
Mortgage protection is designed to ensure your home is secure if something happens to you. These policies help repay your mortgage or cover monthly repayments if illness, injury, or death prevents you from meeting financial commitments.
We offer guidance on:
Mortgage Protection Insurance
Pays a monthly benefit if you can’t work due to illness or injury.
Mortgage Loan Protection Insurance
Repays the outstanding mortgage balance if you die during the policy term.
Decreasing Term Mortgage Protection
Designed to reduce in line with your mortgage balance, often the most affordable option.
With access to leading UK insurers, we help you compare policy types, benefit levels, and optional add-ons—such as critical illness—so you can choose the most suitable protection for your home and family.
Business protection helps safeguard your company if a key individual becomes critically ill or dies. Without proper cover, cash flow can suffer, ownership can become complicated, and the long-term future of the business may be at risk.
We advise on all major forms of business protection:
Key Person Insurance
Protects the business financially if a key employee, director, or owner is unable to work or passes away.
Shareholder Protection
Ensures shares can be bought by surviving shareholders rather than passing to a deceased owner’s estate.
Partnership Protection
Secures continuity and financial stability if a partner dies or becomes critically ill.
Business Loan Protection
Ensures company debts or loans can be repaid if a key person is unable to fulfil their role.
Our experienced advisers help business owners assess risks, choose appropriate cover, and structure policies effectively.
We are committed to providing professional advice
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info@richmondfinancial.co.uk