At Howard Wright, some of our clients find that their need for protection policies in retirement are no longer required, but for some, this isn’t always the case.
Some of our clients find that they haven’t saved sufficiently for their retirement or their retirement income is heavily biased in favor of one partner, leaving the surviving partner with insufficient assets to meet their income requirements should their partner predecease them.
Polices such as Term Assurance or Whole of life plans can provide a lump sum in the event of an individual’s death, this is designed to ease the financial burden on the surviving partner.
Should this be the case for you in your retirement, as part of our retirement planning service our Chartered Advisers will consider the income that you will receive in the event of either your death and your partner’s death and provide recommendations for any shortfalls where necessary.
Term Assurance can also cover known liabilities such as funeral costs and 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 your policy benefits are efficiently paid to the right individuals, avoiding the need of probate and potential Inheritance tax.
At Howard Wright our team of Chartered Advisers can also help you draft and implement Trusts, should you require them.
What to do next?
Once you have compleated this, one of our Chartered Financial Advisers will then contact you as soon as possible, to discuss your protection options and arrange your free initial Consultation. We look forward to hearing from you and seeing how our protection advice can help you and your family.
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