Protecting Your Family

Life Assurance

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 important 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:

• Review the rates you are paying. Life assurance has become much cheaper in recent years and it may be that you are paying too much. Get alternative quotations to check how your policy compares to others, and if necessary, change it. 
• Make sure the benefits are written in trust. Writing the benefits of a life assurance policy in trust has two advantages:
  
  • The payment can be made immediately upon the death of the policyholder, rather than having to wait until probate is awarded. 
  • The amount paid out is not subject to INHERITANCE TAX (IHT)INHERITANCE TAX (IHT)
    Tax payable after you die on the value of your assets in excess of a certain threshold value. Certain gifts between husband and wife are exempt. IHT is also chargeable in certain circumstances while you are still alive..

Private Healthcare

The National Health Service delivers excellent medical care, especially in emergency situations. However, many people have concerns over waiting lists and how a delay in treatment can affect recovery. Private healthcare is becoming an increasingly popular route for those who wish to have peace of mind for their (and their family’s) health. An appropriate policy will not only allow you to avoid waiting lists but will generally give you a more comfortable hospital experience, if you need to be an in-patient. The provision of healthcare can vary between plans – for example some plans will include cover for pre-existing conditions where others are less forgiving. The plans are generally funded by a monthly payment, and costs tend to relate to age, sex and the state of your health at the time of joining.

Contact us for a free initial consultation for assistance in providing for your family.