Back to basics: life insurance key part of financial planning
By Kirsten Hastings, 1 Sep 17
IHT planning, nil rate bands and replacing pension scheme death benefits are some of the reasons life insurance needs to remain a core part of financial planning, according to Chris Lean, a chartered financial planner with Aisa International. Click through the slides below to see six key reasons advisers need to speak to clients about ensuring they are protected.
The death of a married breadwinner, especially one with dependent children, could cause severe hardship for the surviving family members.
It is obvious that all breadwinners in this situation should arrange that sufficient funds are in place, in the event of death, for the wellbeing of the family.
But what would the breadwinner do with the children if the housewife/husband died?
Consider a young family and the cost of employing someone, almost full time, to look after the children. The cost may be greater than that available from net income each month. This would leave the surviving breadwinner with a difficult problem to solve as it may mean taking more time off work.
Insuring the non-working spouse is something that is often overlooked, but it is extremely important.
Tags: Aisa Group | IHT | Nil Rate Band | Pension
