One question no one likes to think about is what if the breadwinner dies?
Will the life insurance benefits often provided by employers be sufficient?
This is often not the case.
We offer life insurance which runs for a fixed term, and whole of life assurance plans which provide cover right up to death, whenever that may occur. Either type of plan may provide a lump sum on the death of the life assured, whilst 'term life insurance' may also be used to provide a regular income in the event of a valid claim. It is sensible to consider covering debts with a policy paying a lump sum so that these can be repaid on your death, whereas a regular benefit is often useful to cover ongoing monthly family expenses.
Lump sum life policies should almost always be written in trust to ensure speedy payout and possibly to mitigate inheritance tax. When we recommend a life assurance policy for you, we will also advise whether the plan should be placed in trust. With this in mind we believe face to face advice is vital.