The thought that our chance of dying before the age of 65 is 1 in 8 for men and 1 in 12 for women* is a concerning one. You need to ask yourself what the effect would be on your family if you died.
Life Assurance generally pays out a lump sum in the event of the death or diagnosis of a terminal illness of the life assured. It can be affected for any number of reasons including to cover the payment of a mortgage and other loans or to replace the income of the life assured.
The cost of Life Assurance has reduced dramatically over recent years and so you must consider reviewing any existing cover that you may have as it may be possible to get the same level of cover at a much reduced cost.
You may even be able to qualify for tax relief of up to 40%,on any premiums that you pay.
Using the latest online quotation systems, we can exactly match the product with your needs. We do not adhere strictly to cost comparisons alone, but will analyse the products in detail to construct the most appropriate benefits for you.
On average approximately 27,000 people under the age of 45 die in the UK a year.** Can you afford not to review your level of protection.
*Government Actuaries Department.
** Office of National Statistics 2001
Critical Illness Cover
Critical Illness Cover is designed to provide a lump sum payment if you are diagnosed with a life threatening illness such as cancer, a heart attack or a stroke. Suffering a serious illness is 2.5 times more likely to happen to you than dying before the age of 60.*
The progress of medical science has meant that more people survive serious illness but as a result can mean that a financial burden is placed on the family. Critical Illness Cover can help reduce that burden and can help you take the positive steps back to a normal life.
With 4 in 10 people being diagnosed with cancer during their lifetime** some may consider Critical Illness protection to be as important if not more important than Life Assurance. In most cases it should certainly be considered in addition to any life cover provided. We can provide you with a recommendation for the most appropriate and cost effective cover based on your personal circumstances.
* Taxbriefs - The facts of Life and Health.
** Macmillan cancer relief
What financial impact would you and your family suffer if you were unable to work due to illness or injury. State benefits and an employer's sick pay scheme may keep you going in the short term. But what happens if you are unable to return to work quickly.
Income Protection will pay a regular income to you in the event of your being unable to carry out your own occupation after a pre-selected waiting period. The payments you receive are free of tax and can increase in line with inflation.
The premiums you pay do not increase as a result of your claim and are waived whilst you are claiming. Cover continues until your retirement age.
Having made an assessment of the level of income you require each month we can provide you with a recommendation for the best Income Protection product going forward. We will take into consideration affordability, income from other sources, state benefits and any existing means of producing an income in order that costs may be reduced.
Private Medical Insurance
Most of us are aware that the NHS cannot provide the immediate access to healthcare that we would all like. However, there sometimes comes a time when we simply cannot wait for treatment.
Private medical insurance can give you vital control over your healthcare. High quality, value for money comprehensive medical plans can cut lengthy waits and put you in charge of where, when and by whom you and your loved ones are treated.
Careful consideration of your needs and the resources currently available to you allows us to recommend the most appropriate level and type of cover for you and your family.
Long Term Care
The Care in the Community Act (1990) removed responsibility for the management of Long Term Care from the National Health Service and placed it with your Local Authority, giving to the Local Authority powers which enable recovery of all of the costs of Care if your estate (including your home) is worth more than £19,500.
With property prices at an all time high it is hard to imagine anybody's estate not being valued in excess of the £19,500 threshold. With 1 person in 4 requiring long term care at some stage in their life and an increasing demographic drift it is increasingly important that provision is made for our future Long Term Care and the preservation of your estate.
Protecting against this eventuality will normally involve savings and investment policies. Our concise information gathering process will allow us to make use of the most tax efficient investment vehicles to suit your personal savings needs.
Remember that payouts from Life Assurance policies may increase the value of your estate for Inheritance Tax purposes. We can therefore, advise on the use of trusts to mitigate this liability altogether.
Contact us today to discuss your requirements - 01924 821111