Your Family

Protecting your family against financial hardship in the event of the early death of a key member has become standard practice, and many of us have policies tucked away to be brought out if needed.

There are two many reasons why you should dust off those policies and give them a closer look, to make sure that you are getting maximum benefit from them.

There are 2 main types of Protection:

Life assurance which can either pay a lump sum or income on death depending on what's most suitable for your loved ones. Critical Illness cover which provides a tax free lump sum on diagnosis of a illness. Many Providers are constantly improving the illness coverage so it can be really useful to review this on a regular basis.

Your Income

There are a number of financial products on the market that allow you to protect your financial stability by insuring against interruption to your income. Many of these are associated with borrowings (eg your mortgage) to ensure that the family home is not repossessed. These policies come at a cost, and can incorporate cover for different periods of time and different circumstances. Other policies exist to insure the policyholder against loss of income in the event of long term illness or disability.

Your Estate

A large number of adults in the UK still haven't written a will. However, the common belief that if you don't make a will your estate will automatically pass to your spouse is a fallacy. The estate will be divided according to a set of rules laid down by the Government and this could lead to the family home having to be sold to raise other claimants' share of the pot. Good estate planning can save your family and heirs a great deal of stress and anxiety at a time when they can perhaps least cope with it. We strongly recommend that you take time to evaluate your estate and to make provision for its disposal upon your death. We are happy to help you with this process, and can show you how to use trusts to secure your assets for the benefit of your heirs.

The Financial Services Authority does not regulate Will writing, Trusts or Estate Planning.

Contact us if you would like more information on what you have read or you wish to arrange a face to face appointment, we are here to help.