The Practical Protection Podcast

Kathryn Knowles
  • 5.0 (32)
  • BUSINESS
  • EVERY-TWO-MONTHS SERIES
The Practical Protection Podcast Podcast

When you set out to get things like life insurance, critical illness cover or income protection, many people do not think that they are going to hit any snags along the way. But! Insurance is a world of risk and there are times that a persons circumstances will make insurers sit back and have an extra think about offering the insurance. Why?! This podcast is designed to answer that why. Kathryn Knowles is joined by guests to bring a clear and open chat about how insurance works. Kathryn brings her experience as a "quirky" life and the voice of the consumer to the discussion. She does this alongside her work as a specialist adviser, who is known for insuring the uninsurable.

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  1. Keyperson Insurance

    EPISODE 1

    Keyperson Insurance

    Hi everyone, I am back with Season 9 of the Practical Protection Podcast and we are taking a look at keyperson cover.  Hopefully one of the simpler business protection policies that we can arrange, but I have certainly had some interesting conversations with people that don’t understand what this kind of insurance does. I remember quite a specific debate with a tax adviser who was saying their client needed keyperson cover because they wanted the tax advantages of the premiums, but what they needed the insurance to do was shareholder protection. I stood my ground! The key takeaways: Keyperson cover can be life insurance, critical illness or income protection.It is designed to protect the Company, not the individual or their loved ones.An explanation of the Anderson principles. Next time we will have Matt Rann back with us talking about hypertrophic cardiomyopathy and the options you might see for life insurance, critical illness and income protection options.  Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    15 min
  2. Hypertrophic Cardiomyopathy

    EPISODE 2

    Hypertrophic Cardiomyopathy

    Hi everyone, I have Matt back with me for the first time of Season 9 and we are focusing on hypertrophic cardiomyopathy. HCM is a heart condition that affects approximately 1 in 500 people in the UK and it can potentially be a higher risk for a life insurance claim. We talk about the different types of cardiomyopathy, how they affect the body and the usual causes of cardiomyopathy. Matt takes us through the two types of hypertrophic cardiomyopathy and how they can affect the outcomes for protection insurance applications. The key takeaways: There is a genetic link to HCM and it can come up in family medical history questionsThe thickness of the heart wall and the part of the heart wall that is affected are essential for your researchA case study of a person living with hypertrophic cardiomyopathy that needed life insurance Next time I will be back and focusing upon relevant life insurance. It will be a quick-ish overview of this insurance product and the do’s and dont’s when advising on this type of business insurance policy.  Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    53 min
  3. Relevant Life Insurance

    EPISODE 3

    Relevant Life Insurance

    Hi everyone, I am back with another focus on a business protection product, rather than the usual underwriting deep dive. This time I am going through the key points of relevant life insurance. In the podcast I discuss how relevant life insurance is an employer and employee relationship. It’s a thank you for your service to the company. I forgot to mention that one of the key ways to check if someone is eligible for this is if they are on the payroll (taking PAYE). Relevant life insurance is probably the simplest business insurance product that we can arrange for our clients. The key takeaways: If you are planning to do relevant life insurance to specifically cover a mortgage, chat with your compliance people first.Make sure you are clear with your clients about the periodic charges that come with relevant life trusts.A quick summary of relevant life insurance versus group life insurance. Next time we will have Matt Rann back and we will be focusing on another underwriting risk and discussing the options you might see for life insurance, critical illness and income protection options.  Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    26 min
  4. Atrial Fibrillation

    EPISODE 4

    Atrial Fibrillation

    Hi everyone, I have Matt back with me and we are focusing upon protection insurance options for people living with atrial fibrillation. It can be quite interesting when speaking with clients who have this condition as the medical world and the insurance world can view atrial fibrillation quite differently. The key takeaways: You are 5x more likely to have a stroke if you have atrial fibrillationThe types of information you need to know to get a clear underwriting indication for life insurance, critical illness cover and income protection.Two case studies of arranging life insurance and income protection for people living with atrial fibrillation Next time I will be back and focusing upon executive income protection. It will be a quick-ish overview of this insurance product and the do’s and dont’s when advising on this type of business insurance policy.  Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    53 min
  5. Executive Income Protection

    EPISODE 5

    Executive Income Protection

    Hi everyone, I am back with another look at an insurance product that can be incredibly useful, especially for small business owners. Protecting your income is one of the key things that any of us can do, to try and give ourselves financial security for the future. As with any protection insurance it’s something that we hope to never have to claim on, but we will forever be grateful for if we have taken it out. In this episode I am explaining some of the main ways that executive income protection is different to personal income protection, how to explain the benefits of the policy if you get some client objections and a case study to show the potential pricing of the cover. The key takeaways: Executive income protection is available with an employer and employee relationshipCompany Directors taking dividends need to be clearly advised on how the claims process works if they continue to take dividends after becoming too ill to work  A case study of executive income protection Next time I am going to be discussing a topic that could be quite difficult for people to listen to. I was approached on social media about how the rules of life insurance work in regards to assisted dying, given the recent debates in Scotland and Isle of Man. It might not be an easy episode to listen to but I hope that people will find it useful. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    15 min
  6. Assisted Dying

    EPISODE 6

    Assisted Dying

    Hi everyone, I am talking about a very emotive topic today after being approached on social media as to how insurers view assisted dying. With recent debates on passing assisted dying laws in the Scottish and Isle of Man governments, it is something that is likely to be discussed by UK insurers at some stage. I have been very clear not to provide an opinion about whether assisted dying should and shouldn’t be allowed, instead focusing on the facts of how the majority of life insurance policies in the UK would behave if a claim was made following someone choosing to die due to their health. At the end of the episode I include some details of support services that you can reach out to, if you have found the discussion difficult to listen to. The key takeaways: The majority of insurers in the UK offer life insurance with an initial 12 month suicide exclusion In Canada where assisted dying is possible, the insurers do not consider death through these means to be suicideIn countries where assisted dying is allowed physical and mental health conditions ca be viewed differently Next time I will be back and focusing upon protection insurance planning when you have an IHT liability. There’s some specific do’s and dont’s that can make huge differences to how life insurance claims pay out. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    28 min
  7. IHT and Protection Insurance

    EPISODE 7

    IHT and Protection Insurance

    Hi everyone, I am back with a short episode focused upon how you can protect against IHT with life insurance. Huge disclaimer from the start I am not a full financial adviser and there are lots of ways to do estate planning, I am just giving insight into how life insurance can work. The key takeaways: With a joint life second death policy one of your clients might be declinable, BUT, they can still be covered by the insurance.Two case studies to show the price difference for joint life second death whole of life, depending upon age.Cautionary tale about HMRC and terminal illness benefits. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    26 min
  8. Right to Forget Cancer

    EPISODE 8

    Right to Forget Cancer

    Hi everyone, I have Cillian Tierney with me on the podcast to talk about the way that insurers in the EU are responding to the Right to be Forgotten. This legislation require insurers to give consumers the right to not disclose that they have had cancer when they apply for some protection insurances. The rules are different across countries and some might choose to say that you don’t need to tell the insurer that you’ve had cancer after 2 years, 5 years or more. It might be applied to all protection products or just certain ones. Cillian is the Global Head of Medical Underwriting Propositions and Products at PartnerRe and is sharing his knowledge of how RTBF has developed in the Irish insurance market. This is potentially quite an emotional topic and we are clear from the start that we are talking about this situation from a technical basis, that might not be easy for some people to hear.  The key takeaways: The Right to be Forgotten is not currently legislated in the UK.How insurers determine the ways to assess insurance applications for people that have been diagnosed with cancer.Three case studies that show where the RTBF would and wouldn’t improve terms for someone that has experienced cancer. Opinions expressed are solely those of the author. This podcast is for general information, education and discussion purposes only. It does not constitute legal or professional advice and does not necessarily reflect, in whole or in part, any corporate position, opinion or view of PartnerRe or its affiliates. Next time I will be back and focusing upon protection insurance planning when you have made a gift within the UK. There are very specific do’s and don’ts and the Trusts are really key! Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    40 min
  9. Gift Planning and Protection Insurance

    EPISODE 9

    Gift Planning and Protection Insurance

    Hi everyone, I’m back with a short episode on how you can use life insurance to protect against the tax made on gifts. A lot of people think of gift planning as something that millionaires do and whilst that can be the case, many people are making gifts all the time without realising it. Giving a financial gift is a lovely thing to do, but without the right protection in place the person who receives the gift could face a rather unexpected surprise of a tax charge. The tax on gifts is for 7 years from the date of the gift if the person making the gift dies during this time, and there are some quick and effective ways of setting up life insurance to help with any tax that might be due.  The key takeaways: The potential tax on a gift is 40% of the full gift amount and this tapers over the next 7 years Your choice of Trust will be a key part in protecting the gift beneficiaryA case study of building a gift planning solution with 5 separate term policies I will be back after the summer with Matt Rann who will be joining me to talk about all things protection insurance and thyroid disorders. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    20 min
  10. Thyroid Disorders

    EPISODE 10

    Thyroid Disorders

    Hi everyone, we have Matt Rann back with us and we are talking about thyroid disorders and protection insurance. I had postpartum thyroiditis after having my third child, which was not a fun thing to experience, and I can say quite confidently that you can feel pretty shocking if your thyroid is misbehaving. The key takeaways: 1 in 20 people have a thyroid condition and we’re talking through the more common ones Key details about thyroid conditions that you need to know to complete your presales researchTwo case studies of arranging protection insurance for people living with thyroid conditions I will be back next time with a short episode going through key parts of group life insurance and the do’s and don’ts of advising on this type of cover. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members. If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.

    1h 2m
See All Season 9 (10)

5
out of 5
32 Ratings

About

When you set out to get things like life insurance, critical illness cover or income protection, many people do not think that they are going to hit any snags along the way. But! Insurance is a world of risk and there are times that a persons circumstances will make insurers sit back and have an extra think about offering the insurance. Why?! This podcast is designed to answer that why. Kathryn Knowles is joined by guests to bring a clear and open chat about how insurance works. Kathryn brings her experience as a "quirky" life and the voice of the consumer to the discussion. She does this alongside her work as a specialist adviser, who is known for insuring the uninsurable.

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