Family Life Insurance Protection
“Home is where the heart is!”
If you die unexpectedly, Life insurance cover protects your loved ones by providing a cash payment to assist with financial responsibilities following your death.
Payments from Life Insurance policies can help finance the cost of childcare and or pay off or reduce mortgage payments and household debt.
Financial support cannot alleviate the pain associated with losing a loved one, but a cash payment helps remove financial stress allowing your spouse to grieve and time to regroup.No Obligation Consultation
Do I need Family Life Insurance?
For most of us, family and loved ones are our top priority and source of greatest pride. Together, we build families, homes, and create wealth.
As families we experience the joy associated with achieving dreams such as buying and providing homes. Watching our children progress along life’s journey from infancy, to children, onto school, university and life thereafter.
The experience and memories families create are beyond the financial, however the costs incurred along life’s journey can be measured. Mortgage, school, university fees, and daily expenses can be calculated.
But how would your family cope financially if you or a partner became incapacitated or passed away? If you passed and were the primary income provider, could your remaining spouse meet mortgage demands and cover the cost of daily living?
For most UK families, meeting such overheads is extremely challenging and a supplementary source of income is required. This is especially relevant for families with children who are financially dependent on parents.
Following a successful claim, Life Insurance may provide a lifeline during a period of emotional crisis by reducing further anxiety associated with financial pressure.No Obligation Consultation
How Family Life Insurance Benefits You
Following the loss of a loved one who was the primary income provider, the surviving spouse maybe required to make drastic decisions such as selling the family home or changing children’s schooling are stressful decisions.
If the remaining spouse is the primary income provider, he or she may choose to continue working, however this may require support at home incurring increased cost.
After a life changing event, such as the loss of a loved one, your spouse may choose to change jobs to devote more time to your children. This may result in reduced income and is only achievable if the spouse is financially secure.
Following a successful claim, Life Insurance may provide a cash payment which could be used to:
- Pay Inheritance Tax (IHT) liabilities
- Pay off a mortgage
- Pay off household debts
- Pay off school fees
- Create an inheritance for children
Estate and Succession Planning
Some of our clients are family people with businesses they wish to pass on to future generations.
Estate planning and business succession planning often pivots around one or a handful of key people. Should anything happen to those key people the future of a business may be jeopardized.
Fatgreen works with families and business owners to ensure that business succession plans are protected.No Obligation Consultation
Family Income Benefit
Receiving a one-off Life Insurance cash payment works for some families, however, others prefer the security of receiving a monthly or annual payment.
Family Income Benefit, FIB, is a policy that provides families with a regular income following the loss of a loved one. Receiving a monthly payment acts as a supplementary income helping you manage your monthly overheads, in particular school and university tuition fees.
Family Income Benefit is attractive as the premiums are lower than “like for like” Life Insurance and policies can be arranged to provide cover until the children are ready to fly the nest.No Obligation Consultation