Facing the unthinkable and preparing for the unexpected
Critical illness cover offers a financial safety net when you and your family need it most. Adding this option to your life insurance policy can alleviate the monetary burden that may arise if you become critically ill.
Having enough to pay for what you need now and in the future
When the unexpected strikes, our world can be turned upside down instantly. It’s never pleasant to contemplate misfortune, but what if a serious illness leaves you unable to work? How would you cope financially?
When life presents you with unforeseen challenges, obtaining a swift diagnosis and treatment, along with genuine assistance, support, and empathy, becomes crucial. Your health and the well-being of your family are your top priorities.
Planning to secure a comfortable and dignified future
As you plan for your later years, it’s crucial to consider how you want your finances managed and how essential expenses will be covered in case of illness or death. Addressing these matters now ensures that you or your family are prepared for future costs and can alleviate undue pressure.
Opportunity to express your preferences and ensure your wishes are respected
For residents of England or Wales who pass away without creating a legally valid Will, the government takes responsibility for determining the allocation of assets.
Managing finances and making healthcare decisions can become increasingly challenging when an individual’s health declines. Have you ever thought about the consequences of losing mental capacity and becoming incapable of making your own financial and welfare decisions? This is when a Lasting Power of Attorney (LPA) becomes crucial.
Knowing how much you’ll receive is vital for planning your future finances
The State Pension age is set to rise to 67 by 2028, followed by a subsequent rise to 68 between 2044 and 2046. However, there is currently a review being conducted to determine the appropriateness of the existing timetable.
How much has the 2023/24 State Pension increased by?
If you are a UK resident planning for your retirement, it’s important to be aware of the State Pension changes that have taken effect in the new tax year. From April, the amount you can now receive as part of the UK State Pension has risen, which will be welcome news to those who have retired or are nearing retirement age.
If you’re an investor looking to maximise your Individual Savings Accounts (ISA) returns, it’s worth considering investing your ISA allowance as soon as possible each year, as soon as it becomes available on 6 April. Not only will this help ensure that your money is protected from taxes right off the bat, but it also means that your investment has more time to grow in the market. This can result in a bigger ISA pot in the long run.
Two in five over-55s plan to gradually phase out working life before State Pension age
Semi-retirement is an option to consider for individuals who may not be ready to fully retire, but still wish to reduce their work hours and gradually phase out working life. By choosing to semi-retire, you can maintain a good work-life balance while still earning an income.
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