Updated 03 September 2020
A thoughtful, regularly reviewed financial plan is essential to the achievement of the financial goals you hold dear.
Goals like achieving financial independence by a particular date for you and your family, providing a fund to help your children through higher education and maximising the amount you leave to your family through reducing inheritance tax.
In designing a financial plan establishing an investor’s attitude to risk is an essential component. It helps advisers to create an investment portfolio and asset allocation model that is most suitable for you.
But what about your attitude towards the risk of death or illness? Events which could detrimentally affect the likelihood of reaching your financial goals? With the benefit of advice, it’s a relatively easy task to put in place the reassurance that this risk will be financially provided for in a highly tax effective and economically attractive way.
Incorporating life assurance protection into your overall wealth planning strategy to deliver an appropriate level of wealth protection is well worth considering – especially as the “protection gap” (the difference between the level of life cover that would ideally be in place to provide the financial protection that individuals and families need and that which is actually in force) is estimated to be over three trillion pounds!