By law, we have to insure our cars and our houses, but very few of us adequately protect ourselves.
In our experience, if protection is effected, this is normally only to a level to repay any mortgage debt, which generally won’t then meet any living requirements once this is repaid by a lump sum payment.
At MAC Financial, we look beyond the basics of this planning and seek to provide our clients with an understanding of how much is required to ensure standards of living are maintained, debts are repaid and children are supplied for in the future.
We will assess your current situation and provide you with a formal proposal of both an ‘Ideal’ level of cover and what we consider to be a ‘Minimum’ level. Our recommendations, for the most part, look at the lump sum benefits of:
Other areas of protection that we advise on are as follows:
This formal approach forms part of our core services and further product information can be made available on request
N.B. It may be advisable to affect Trust planning as part of your protection strategy to mitigate future taxation or Inheritance Tax. See Tax Planning & Legal section for further information on our approach to this.