Insurance comes in different forms but its primary purpose is to protect.
Holidays, cars, material possessions etc. people can insure all sorts of things but often forget to cover their most valuable asset – themselves.
We got together with 2mtrust Insurance Specialist James Salt to pick his brain about the benefits of having insurance for yourself - and your family!
With a young family of his own, a mortgage and bills to pay, James understands the importance of protecting what’s most precious to you. These are some of the questions we asked him –
Insurance policies are designed to give you financial support when you need it most.
When asked what their biggest asset is people often say their house.
Your biggest asset is actually yourself and your ability to earn, to care for your family and to plan for the future.
So we work to help protect you, your health and your income.
Sometimes people think that insurance companies don’t pay claims. But the truth is, reputable companies pay legitimate claims – and that’s why it’s so important to make sure your cover is accurate and appropriate. Professional advice makes a real difference.
It depends on the individual, but here are the main types of personal insurance we discuss with 2mtrust clients:
Life Cover - Protecting Loved Ones Beyond Death
This pays out a lump sum to your family if you die. It can help clear debts, cover funeral costs, or provide financial stability for your loved ones. There are different types of life insurance depending on your goals – such as Level Plans, Mortgage Protection or Family Income Benefit.
Critical Illness Cover – Support During serious Illness
If you’re diagnosed with a serious illness like cancer, heart attack, stroke, or multiple sclerosis (MS), this policy pays out a lump sum.
It can help with treatment costs, home adaptations, or simply give you time to focus on recovery. These policies are popular with 2mtrust clients because many policies also include cover for children, which is a huge comfort for families.
Many people fail to appreciate the costs involved if they (or someone they are co-dependant on) gets a critical illness. Critical Illness Policies are designed to support people as part of their recovery journey.
Income Protection - Safeguarding Your Livelihood
Income protection is designed to cover a significant portion of your salary if you are unable to perform the primary duties of your job due to illness or injury - so it’s specifically tailored to your income and job.
It typically pays out a monthly sum until -
– whichever is earliest.
The deferred period (how long before payments begin) is a key detail, and it’s something we tailor to each client’s situation. It’s important to talk to a Financial Adviser to ensure the policy is appropriate for your circumstances.
For example - could you afford to be off work for 6 months before the insurance policy kicks in or would you prefer a shorter period of time? Do you have some existing cover with work that we can tailor your deferred period to?
Accident and Hospitalisation – Additional / Alternative Financial Relief
Accident and Sickness policies are not dependent upon your health status, you don’t have to undergo assessments or answer lots of questions to be approved. As a result, the application process is typically much quicker than other insurance policies.
These policies are therefore particularly good for those who:
These policies are also available for children.
The pay-outs could be useful for recovery costs including but not limited to: loss of earnings, higher household bills, hospital parking costs, additional equipment and/or medication required to aid recovery, technology to help you continue to meet your working requirements or to help your children to continue to engage with their education.
Business Insurance - Tailored Coverage for Enterprises
In short, limited company directors can purchase business insurance policies through their business as a tax-deducible expense for themselves and/or their employees.
2mtrust Financial Advisers - like James Salt - have expert and up-to-date knowledge of insurance policies and providers. They will get to know you and your circumstances in order to find the most appropriate policies for you and your family.
2mtrust is part of The Openwork Partnership and is FCA regulated, which means we only recommend trusted, tried and tested insurance providers – they are the cream of the crop!
Our advisers will consider and explain whether you would benefit from setting up a Trust – this is something we can cover in our appointments. A Trust ensures that you control who and where the pay-out goes to in the event of your death. It can also ensure that the money does not get tied up in probate.
We organise annual reviews and actively monitor whether a policy is still relevant and financially appropriate for you currently.
Did you know that you can become uninsurable?
If you become seriously ill or injured, you might find it harder – or even impossible – to get certain types of cover in the future. Even if you recover from a serious illness or accident, it may impact future policies and you may have more restrictions on what you can and can’t be insured for.
That’s why it’s worth having the conversation now – while you’re healthy and insurable. It’s not about fear. It’s about being prepared.
If you’d like to explore your options or simply understand what’s available for you and your family, we’re always happy to have a conversation at 2mtrust. It’s never too early to protect what’s most important.
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Trusts are not regulated by the Financial Conduct Authority.
Approved by The Openwork Partnership on 15/07/2025
