Pensions On Divorce
From looking after your partner and children, to protecting your mortgage, to making sure that your business has the ability to run if you are no longer here. We ensure that Protection is at the top of any meeting agenda.
The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in mind, it makes sense to periodically review your cover with the help of a professional financial adviser.
This section provides helpful information on the different types of protection product available.
Term assurance guarantees a known lump sum payout upon death within a fixed time e.g. £150,000 if you die within the next 18 years.
Family Income Benefit which pays an income to dependants on the death of the insured. This income is payable for the remainder of the policy term. These policies are suitable for people with young families who wish to protect against the loss of income provided by either or both parents
The aim of the plan is to either clear debt, or to provide a cushion against suffering one of these illnesses.
The important thing here is that payment is on diagnosis and not death.
It ensures your dependants need not worry about repaying the mortgage if you die.
Most lenders will recommend you put this cover in place when you take out a mortgage.
Mortgage Life Insurance has no investment element as the payment covers the balance of the mortgage. So it’s usually a simple case of the cheaper the better.
This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk
Whole of Life Assurance
This type of plan can be useful to assist in Estate Planning and can often have an investment element which helps to cover the cost of the premiums over time.
The Financial Conduct Authority does not regulate Estate Planning.
Cardinal Financial Planning and Wealth Management Limited is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, who are authorised and regulated by the Financial Conduct Authority. Cardinal Financial Planning and Wealth Management Limited. Registered in England and Wales, under company no. 09565939. Registered office address - Unit 4 & 5 Brightwell Barns Waldringfield Road, Brightwell, Ipswich, Suffolk, England, IP10 0BJ. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK