What is Life Insurance?
Life insurance protection underpins good financial planning – it ensures the right amount of money will reach the right people, at the right time, if the worst was to happen.
Why might you need life insurance?
The payout of life insurance may be a lump sum or a regular income. There are various reasons why life insurance might be needed:-
- Paying off a mortgage or a loan if the borrower dies.
- Protecting a family against the early death of a spouse, partner or parent.
- Protecting financially independent children against loss of a guardian.
- Paying for a funeral.
- Paying for inheritance tax.
- Protecting a business against the financial consequences of the loss of its owner.
What type of Life Insurance?
There are many different life insurance options out there, such as level term, renewable term, increasing or decreasing term, mortgage protection and family income benefit.
There are also other types of insurances that you might require, such as health insurance, critical illness insurances, income protection insurance, medical insurance and unemployment insurance.
How can Acumen help with life insurance?
Acumen can make sure you are covered for all the eventualities you want to be covered for at the most cost-effective price. We tailor the life insurance policy or solution to you.
- In-depth analysis of your situation – we embark on a fact-finding mission to understand your personal circumstances, your worries, concerns and attitude to risk.
- Help you identify your priorities – we help you prioritise what is important to be insured against now, and what might need to change in 10 years’ time.
- Recommend tailored solutions – we put together a tailored life insurance plan, taking into account your other financial circumstances and investments.
- We advise on using trusts and on the most tax-efficient way of ensuring your money gets to the right people at the right time.
Life insurance can pay your dependents money as a lump sum or as regular payments if the worst was to happen to you. It is designed to provide you with the reassurance that your family will be cared for long after you are no longer there to provide. Acumen’s advisers can find a solution that gives you peace of mind.