The aim of life assurance cover is simple – to provide a benefit on death to someone who is financially dependent on you.
Often this is to repay a mortgage/debt or provide capital to replace the deceased’s income, for example to support your children whilst dependent. Life cover also has uses beyond, for example to replace income in retirement or cover a potential inheritance tax bill.
Knowing you need cover is just one part of the jigsaw and we can offer assistance in the following:
- Ascertaining the amount of cover required
- What type of cover do you require – lump sum or income?
- Over how many years?
What basis: single life, joint life, level cover, increasing, decreasing?
- Should it be written under Trust?
- Which life insurance company should you use?
- Are there any options you should consider?
What on the face of it should be a simple product, does have many advice considerations.
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website.
Condies Wealth Strategies Limited, trading as Condies Wealth, is authorised and regulated by the Financial Conduct Authority (FCA) no.748895.
Registered in Scotland SC381967. Registered office 10 Abbey Park Place, Dunfermline, KY12 7NZ.
You should remember that the value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you have invested.
The guidance contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Trusts, some forms of estate planning/inheritance tax solutions are not regulated by the Financial Conduct Authority. All statements concerning the tax treatment of products and their benefits are based upon our understanding of current tax law and HMRC practices both of which are subject to change in the future. Levels and bases of reliefs from taxation are also subject to change and are dependent on your individual circumstances'.
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients.
FOS details can be found at https://www.financial-ombudsman.org.uk/