Life Insurance
As Benjamin Franklin famously said, "the only certainties in life are death and taxes", and it can make sense to plan for this eventuality so you-re not caught unprepared. The emotional impact of a death in the family can be hard to bear, but if also accompanied by negative financial implications, then the outcome can be devastating - so it's vital that you consider the consequences which an unexpected death could have on your family, and plan accordingly.
Life Assurance can be used for many purposes, including;
- Inheritance tax planning
- School fee continuation planning
- Mortgage protection
- Financial security/support for your family in the event of a main income earners death
- Keyman Assurance for companies and business partnerships
Finally, be wary of banks selling you mortgage protection cover, as a recent report published by Inese & Global Actuarial discovered that the premiums offered by banks are significantly higher than those available from brokers - often in excess of 30%!