Life Insurance and Protection Journey

How We Advise on a Protection/Life Insurance Policy

At Thomas Whiting Ltd., our approach to advising on protection and life insurance policies is thorough, client-focused, and fully compliant with Financial Conduct Authority (FCA) regulations. We ensure that clients receive tailored recommendations that align with their personal and financial circumstances.

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Understanding the Client’s Needs

Our first step is to conduct a detailed fact-finding session with the client. We assess:

• Personal Situation – Age, marital status, dependents, and employment.
• Financial Position – Income, debts, mortgage commitments, and existing protection policies.
• Objectives & Concerns – Ensuring financial security for family, covering mortgage liabilities, or safeguarding business interests.

This holistic review helps us determine the appropriate level and type of cover required.

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Explaining Policy Options

Once we understand the client’s needs, we provide clear explanations of different life insurance and protection products:

• Term Life Insurance – Pays a lump sum if the insured dies within a set period. Ideal for covering mortgages and family protection.
• Whole of Life Insurance – Guarantees a payout whenever the insured passes away, often used for inheritance tax planning.
• Critical Illness Cover – Provides a lump sum if diagnosed with a serious illness, such as cancer or heart disease.
• Income Protection Insurance – Pays a percentage of salary if the client is unable to work due to illness or injury.

We explain the pros and cons of each product and help the client balance affordability with adequate cover.

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Comparing and Recommending Policies

We conduct an independent search across multiple insurers to find the best policy. We compare:

• Premium costs (monthly or annually).
• Cover amount and payout terms.
• Exclusions and limitations.
• Additional benefits (e.g., waiver of premium, total permanent disability cover).

Our recommendation is based on value, suitability, and long-term sustainability for the client.

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Application and Underwriting Support

We guide the client through the application process, assisting with:

• Completing medical questionnaires.
• Providing required health and lifestyle information.
• Arranging medical underwriting if necessary.

We liaise with insurers to ensure a smooth application process and negotiate terms if required.

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Reviewing and Ongoing Support

Life circumstances change, so we offer regular reviews to ensure policies remain relevant.

• Reviewing cover levels after major life events (e.g., marriage, childbirth, mortgage changes).
• Adjusting policies if financial circumstances improve or deteriorate.
• Reassessing premiums and finding better deals when necessary.

We provide clients with ongoing support and clear explanations, ensuring they always have the right protection.

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Our Role

Our role as financial advisers is to provide expert, unbiased advice on life insurance and protection policies. We tailor solutions to each client, ensuring they have the right coverage at the right cost to protect their financial future.