Life Insurance
PERSONAL FINANCES
Life insurance, or protection, is a generic term used to describe insurance policies that pay out on the event of death, accident or illness.
There are two main types, which pay out either a lump sum or an ongoing income.
Term assurance policies pay a lump sum on death, and critical illness cover policies pay out a lump sum if you are in an accident, or are ill and cannot work.
The second type are policies that pay out an income after an accident or diagnosis of illness. This is known as income protection, and these provide an income up to 65% of your salary or other earnings.
“Naj has done some fantastic seminars on money management and the mental mindset that comes with it. Not only is he down to earth and great to talk with, but his wealth of knowledge (no pun intended) on financials and making money work for you are next to none. Naj has also assisted me in setting up life insurance coverage and the service he offers is amazing, with no pressure or confusing jargon. I've got no doubt that if you're considering working with Naj you'll not be disappointed.”
- Richard Walker, Senior Organic Acquisition Specialist
What are the benefits of Estate Planning?
Estate planning advice helps you decide where your assets should go, and will help you pay less tax for the privilege of them going there. It can prevent you having to sell assets like your house to pay an inheritance tax bill. It also helps ensure that your wealth is protected, and only used by the people you intended, for the purpose you intended.
How can 20:20 help?
At 20:20 Financial Planning we think protection is fundamental to responsible financial planning.
We work with clients to demonstrate the impact that an accident or illness can have on their financial security. This includes cash flow modelling to show how loss of income can affect your retirement plans or quantifying the increased living costs of losing a spouse in conjunction with a drop in income. We also coach clients to recognise the uncomfortable emotions associated with this subject.
Ultimately, the decision is up to you, but we ensure that you will make it with clarity.
- Protection is a key aspect of responsible financial planning at 20:20.
- We work with you to assess the impact of accidents or illness on financial security.
- Use cash flow modelling to show how income loss affects retirement plans.
- Quantify increased living costs from losing a spouse and the associated income drop.
- Coach our clients to recognise and manage uncomfortable emotions around this topic.
- Ensure decisions are made with clarity
We are here to help you map out your financial future!
