What sort of protection do I need?
Swallow Financial Planning recommends that in the event of your death or incapacitation, you be insured against one or more of the following:
- Debts, such as mortgages and loans
- The loss of income
- Your children’s education costs
- Making your home fit for purpose if you suffered an injury or illness
- Providing a lump-sum to children or surviving spouse
By doing this, you’ll ensure that you and your family won’t lose everything you have worked so hard for.
You might also consider private medical insurance if this was something you enjoyed at a former employer but no longer receive.
We can even look at implementing a simple insurance policy that helps to protect your beneficiaries from a potential inheritance tax bill.
Protection for employers
As an employer, you can contact Swallow Financial Planning to protect your staff’s pensions from a potential lifetime allowance tax charge. Our planners can advise on relevant or excepted death-in-service benefits, so please get in touch if you’d like to find out more.