One kind of insurance - on lives - is different from any other in that it provides for the payment of a sum of money on the death of the person insured.
Death differs from, say, a fire or a burglary in that it is certain to occur sooner or later.
In the sixteenth century people could only insure their lives for short periods, as when they were going on a voyage, and the insurance was very expensive.
Two hundred years later ingenious mathematicians devised what is known as whole life insurance.
In this the annual premium of a level amount is payable each year from the time when the insurance is entered into, and the sum insured becomes due whenever the person insured dies.
Our Private Clients team provides a first class and personal service, to the diverse and individual insurance requirements of high net worth individuals.
Protect possessions that are of value to you, your property, your car, your mobile, your pets. Any thing that is of value to you whether that be a financial value or a sentimental value, get it protected and get it insured.
For some assets there are extra precaution steps you can take to make sure there is minimal risk of damage. 80% of homeowners in the UK also own a pet, it is important that you stay on top of their vaccinations to keep them safe. A step you can take to protect your phone is to purchase a case to reduce to risk of damage if it is dropped. Take that step and order online to get the case that you want.
As wealth grows and lifestyles change, time can become as precious as possessions. That’s when you need someone you can rely on and trust, to take away the hassle and burden of ensuring your assets are protected.
No two clients are the same, particularly high net worth clients, but they all have one thing in common……...they are accustomed to - and expect - excellent service.
We value professionalism, expertise and personal service as much as our clients do. That is why our Private Clients team place excellent client service at the core of everything they do. Your adviser will maintain contact with you; building a relationship with you and getting to know your lifestyle.
Insurance of this kind is useful for providing for one's dependants or for paying off debts but a demand also grew up for life insurance as an investment which could be enjoyed by the policyholder during his lifetime. A policy of this kind, known as an endowment insurance, provides that the sum insured shall be payable at the end of so many years, say 20, or earlier if the life insured person dies meanwhile.
The principle of insurance was adopted first in Britain five hundred years ago by ship-owners and merchants who sent cargoes by sea. Maritime ventures were perilous in those days as Antonio, the Merchant of Venice, found to his cost, so a trader would effect a `policy of assurance' against the perils of the seas.
Assurance is the old word for insurance and is still used sometimes today.
The policy would be signed by a number of individuals, each of whom undertook to accept liability for a stated proportion of any loss.
Because they signed at the bottom of the policy... see: How Insurance Works
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