Once a financial plan has been completed you are assured in that you now understand what needs to be done to make your dreams a reality. The problem though is that sometimes life is not that simple and an accident, illness or death can derail even the most carefully constructed plan.
Our team of Chartered Financial Planners will therefore once a plan is completed look to underpin the plan against accident, death and critical illness to ensure that should the worst happen, the family is left in a strong financial situation and not one that unravels creating stress at a time when it is the last thing you need.
The most common types of financial solution to underpin a families strategic plan are:-
- Life Insurance Policies to provide a lump sum on death, terminal illness or diagnosis of a critical illness
- Life Insurance Policies to provide an income on death, terminal illness or diagnosis of a critical illness
- Income Protection policies to provide an income after a defined deferred period, until normal retirement age if unable to do your job due to accident or illness
- Private Medical Insurance to pay for health care costs if the NHS cannot provide care quick enough
The reason why we underpin the strategy and not the need excluding strategy execution, is that it is one thing to protect the outgoings of a client and family if they suffer any of the above tragedies, but it is also important to protect the eventual strategic outcome being planned for to ensure the strategy is protected.
If not, although expenditure requirements will be covered until retirement, they will not be covered in retirement and the strategy will not have been protected. Therefore, financial security in retirement, which is the overall aim for every client who is not already financially independent, will have disintegrated.
To discuss further please contact us directly and speak to one of our Chartered Financial planners who will be delighted to listen and discuss your objectives.