Extra flexibility over your pension savings in retirement
It’s never too early – or too late – to start saving for your future. With retirement planning, it is important to take into account the fact we’re all living longer. Couple that with the fact that the cost of living continues to rise, and the value of the State Pension continues to dwindle – this provides a very strong case for starting to save early for your future.
Without planning ahead, the cost can be a huge money sink
While many parents value the standard of education offered by independent schools or universities, the costs can be daunting. However, with careful planning, it may be possible to avoid a huge outstanding student loan or tax burden.
Peace of mind knowing that your family is protected
It’s understandable that we would rather not think of the time when we’re no longer around. But it’s important to protect the things that really matter – like our loved ones, home and lifestyle – in case the unexpected happens.
When it comes to your life insurance, you’ve got options
‘Single life’ policies cover just one person. A ‘joint life’ policy covers two people, and when one person on the policy dies, the money is paid out and the policy ends. You will need to decide whether the joint policy pays out on first or second death, as this will determine when the policy ends.
Protecting your family’s finances by covering living expenses or replacing lost income
With term life insurance, you choose the amount you want to be insured for and the period for which you want cover. This is the most basic type of life insurance. If you die within the term, the policy pays out to your beneficiaries. If you don’t die during the term, the policy doesn’t pay out, and the premiums you’ve paid are not returned to you.
A whole-of-life insurance policy is designed to give you a specified amount of cover for the whole of your life and pays out when you die, whenever that is. Because it’s guaranteed that you’ll die at some point (and therefore that the policy will have to pay out), these policies are more expensive than term insurance policies, which only pay out if you die within a certain time frame.
It’s easy to think ‘I’d cope, that’ll never happen to me’, but most of us know someone either directly or through friends and family that has been affected. Any of us can become ill at any age – and with appropriate critical illness cover in place, it could help to give some financial security at a difficult time.
How would you pay the bills if you were sick or injured and couldn’t work?
Being unable to work can quickly turn your world upside down. No one likes to think that something bad will happen to them, but if you couldn’t work due to a serious illness, how would you manage financially? Could you survive on savings or sick pay from work? If not, you may need some other way to keep paying the bills – and you might want to consider income protection insurance.
There’s nothing more important in life than your health
Nothing is more important to you than your health and the health of your family. If you or your loved ones were to experience worrying symptoms, private medical insurance can offer reassurance and control at a difficult time.
Registered in Endland and Wales. Registered Address: Coleford House, 25A Coleford Close, Mytchett, Camberley, Surrey, GU16 6DX Company No. 05238758 Custodian Wealth Management Limited is authorised and regulated by the Financial Conduct Authority. We are entered in the FCA's register under reference 459817. http://www.fca.org.uk/register/.