Reduces risk for family and business should you depart.
Objectives
To provide money for people who financially depend on you. If there is someone in your life who would be financially dependant on you, life assurance is a very important part of your financial portfolio.
That said, the following are all situations that may require the use of life assurance.
- Business Partners and Co-directors. If you die you hope that your colleagues will pay a fair value for your share of the business, but they can only do this if the funds are available. Assurance can be used to provide this.
- Business debts. Banks and creditors get worried when key people die. Credit lines get shortened or even pulled, often with fatal consequences for the business. If you are a key person your business could insure you to provide cash flow to settle all debts and recruit a new person.
- Money for dependants. If you have small children then money will help provide for them, perhaps by allowing the surviving partner to stay at home or work part time for some years.
- Mortgage. If the house is to be lived in by your partner or children then it is normal practice to ensure that the mortgage is cleared on death.
Benefits
We will organise and plan your bespoke requirements by the careful use of life assurance and trust planning.
