Some Clients find that their need for protection policies are no longer needed in retirement but for some this is not the case. Clients may find that they have not saved sufficiently for retirement or income is heavily biased in favour of one partner, leaving the surviving partner with insufficient assets to meet their requirements in the event that their partner passes away.
Polices such term assurance or whole of life plans can provide a lump sum in the event of an individual’s death to ease the financial burden on the surviving partner.
As part of your retirement planning your adviser will consider the income that you will receive in the event of either death and provide recommendations for any shortfalls.
Clients may be advised to consider life assurance to provide a payment in the event of their death to either cover a known liability such as funeral costs or inheritance tax.
Private Medical Insurance
Private Medical Insurance is designed to fully / partially meet the costs of private medical treatment for you and your partner. This can reduce treatment waiting times and potentially give you access to more specialist treatments.
Trust documentation is essential as this ensures that the policy benefits are paid to the right individuals in an efficient manner and avoiding the need of probate and potential Inheritance tax.
At Howard Wright we can help you with the implementation of Trusts.
What to do next?
Once you have done this one of our Chartered Financial Planners will then contact you as soon as possible, to discuss your protection options and arrange your free initial Consultation.
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