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We are engaged by leading lawyers, tax advisers, private banks, wealth managers and trust companies.

We provide their clients with solutions which complement their wider planning objectives.

Our reputation in the market grants us privileged access to underwriters to negotiate the best possible terms efficiently and quickly.

We have relationships with UK and offshore insurers and reinsurers, enabling us to meet the requirements of domestic and international clients.

Well-planned and efficiently implemented life insurance policies provide clients and their beneficiaries with liquidity when it is needed most.

Mitigating Inheritance Tax
Life insurance is an important tool in preserving the value of an estate, especially where assets are illiquid, held till death, or gifts of substantial value are made. Life insurance provides a simple and cost-effective solution and, when structured correctly, provides immediate liquidity to fund the IHT due, before probate is granted.
Protecting Families
The sudden death or illness of an individual can leave a family with challenging financial circumstances. Insurance can be used to provide liquidity and to allow the deceased’s family to meet day to day expenditure such as mortgage payments, school fees and general living expenses.
Protecting Businesses
Businesses are complex operations, and they are open to many and varied risks. One of the greatest risks is the sudden death or illness of a key individual or major shareholder. We are experienced in arranging policies that can provide a cash injection in such circumstances. This helps ensure the ongoing success of the business and continuity of ownership.
Protecting Mortgages / Borrowing
Life insurance provides liquidity to repay debts on the death or illness of the borrower. This cover can be required by lending institutions and can be written on either a single life or joint life first death basis.
Tax Efficient Relevant Life
Large companies typically offer group death-in-service arrangements to their employees. For smaller companies, or individuals affected by pension lifetime allowances, Relevant Life Plans offer a tax efficient means of funding live cover with premium savings of up to 50%.

Product Overview

Term
Insurance

Term insurance pays out a tax free lump sum if the life insured dies during the term of the policy, although most policies include a terminal illness benefit. If death or terminal illness does not occur during the term of the policy, no payment is made and the policy comes to an end.

There are a number of different forms of term insurance.

  • Level term insurance – this policy has a sum insured which is fixed throughout the term.
  • Renewable term insurance – this policy has an option at the end of the term to take out a new policy without further evidence of health. When the policy is renewed the premium increases as it is based on the current age of the life insured.
  • Convertible term insurance – this policy has an option to convert at any point from a term insurance to a whole of life policy, without further evidence of health. The new premium is based on the life insured’s age at the time of conversion.
  • Decreasing term insurance – this policy has a sum insured which reduces each year by a stated amount, decreasing to nil at the end of the term. It is normally used to cover a reducing debt, such as the capital outstanding on a repayment mortgage.
  • Increasing term insurance – this policy offers a sum insured that increases over the term of the policy without any further evidence of health – either on a fixed basis or linked to inflation.
  • Family income benefit – instead of paying a lump sum on death, it pays an income intended to replace the income which the life insured would have provided for their family.

Critical
illness cover

Critical illness cover pays out a tax free sum insured if the policyholder is diagnosed with a specified critical illness.

The policy will define what a ‘critical illness’ is and definitions vary from insurer to insurer. All offices cover heart attacks, strokes, coronary artery disease and cancer. Other commonly covered problems are kidney failure, major organ transplants, paralysis, permanent total disability, multiple sclerosis and blindness.

Critical illness policies can be combined with life cover or they can be bought as a stand-alone product. Premiums can either be guaranteed or reviewable.

Income
Protection

Income protection pays out when the insured is unable to work due to illness or accident. It provides a regular income to replace the income that the individual may no longer be able to earn.

As long as the insured keeps paying premiums and complies with any relevant policy conditions, the insurer cannot cancel the policy or increase the premiums, no matter how many claims are made.

Whole of life
policies

A whole of life policy is a very simple policy which pays out a sum insured whenever the life insured dies. Unlike term insurance, it is a permanent policy, not limited to an expiry date.

A whole of life policy can be guaranteed or reviewable. A guaranteed whole of life policy has a fixed premium, payable throughout whereas a reviewable whole of life policy has a premium which changes at certain points. The new premium is based on the life insured’s age at the time of review.

Series of terms -
Gift cover

A series of terms is often used to cover the inheritance tax liability resulting from a gift. Five separate level term insurance policies run for 3, 4, 5, 6 and 7 years. At the end of each separate term, each policy expires so that the overall sum assured decreases in line with taper relief.

Business cover

Life policies can also be taken out to provide protection for businesses.

Partnership/Shareholder protection – businesses run as a partnership or company can take out cover on partners or shareholders. In the event of their death, the remaining partners or shareholders can use the proceeds to purchase the interest of the deceased from their estate.

Key person insurance – key person insurance is the name given to insurance taken out by a company on an employee who is vital to the continued profitability of the business.

Relevant life policies – this policy provides a capital sum in the event of the death of the insured person under the age of 75. The policy is normally arranged and paid for by the employer and written into trust for the benefit of the employees dependents.

Risk Assured advised me on the purchase of two critical illness policies. Unfortunately, days after their implementation I discovered that I had contracted an illness and needed to claim on them. The team at Risk Assured were very professional in helping me handle the claim and dealt directly with the insurers on my behalf. The claims were settled promptly and with minimum involvement on my part, thus allowing me to focus on recovering from my illness. The team come highly recommended.
Martin Brebner - Co-Founder and Director, Wentworth Homes
I never have any hesitation to refer a client to the Risk Assured team. I have complete confidence that their proactive and responsive approach always delivers a premium client service which aligns to how we work with our clients. In my working with Risk Assured, they have secured some amazing results for our clients and provided incredible value. They are practical and pragmatic in their approach, and always honest with clients from the outset.
Nimesh Shah - CEO, Blick Rothenberg
They helped me get ready for my application just like you get a car ready for its MOT. I wanted to make sure that if anything should happen to me, there’d be no fire sales of businesses that I’ve worked very, very hard to build up
Ben White - Former Partner, Notion Capital
You just can’t send a multi-millionaire off to an insurance broker who wants them to attend a medical at a grotty building in Croydon at a time not of their choosing. Risk Assured aren’t phased by big numbers, even by very big numbers. The industry typically gets scared when the amount of cover rises above a million. They have a remarkable ability to place cover for people who don’t live in the UK – especially those living in countries where a lot of insurers are seriously put off.
Andrew Goldstone - head of Tax and Wealth Planning, Mishcon de Reya
Risk Assured are unique in that they have unrivalled expertise in placing ultra high value cases on risk – that’s what sets them apart from their competitors. They ensure that medical issues are handled with minimum inconvenience and stress.
Jane Shaw - Director, Pannone
I have worked with Risk Assured for many years now across a variety of Private Banking roles. They have achieved consistently good outcomes for our Clients and come highly recommended.
Ken Chapman - Head of Wealth Planning, EFG Private Bank
I can’t rate them more highly. Being a smaller organisation, both more personal and more motivated, allows them to get things done when others can’t.
Harry Talbot Rice - Former Head of Global Equities, Sarasin & Partners

Get in touch

If you are looking for life insurance for yourself or your client, we can help

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