News & Insights

Income or Lump Sum? The Life Plan Conundrum

Life plans are an investment opportunity whereby part of the monthly premium buys life insurance and the balance is invested by the provider into various vehicles to, hopefully, grow the savings portion of the plan. Once the plan reaches maturity, the savings are paid out to the investor. If the customer dies before maturity, the life insurance will provide a lump sum to family.

There are many types of insurance policy to help provide essential financial protection for investors whether they reside in the UK or as an expat in the EU or elsewhere. Such policies offer various benefits to individuals and families, which is, surely, the point of any wealth management strategy, regardless of whether it is growth or preservation-focused.

Protection policies include:

  • Life, Critical Illness & Family Protection Plans
  • Income Protection & Accident, Sickness & Redundancy Cover
  • Whole of Life Cover
  • Private Medical Insurance
  • Long Term Care Cover

Your choice of insurance policy or regular savings plan should be carefully considered and it is always wise to seek regulated financial advice before signing on the dotted line. Your financial adviser should be able to answer all your questions about any product they recommend and explain the key points from the outset before you sign any agreement.

Finding the right balance of growth and protection

Blacktower Financial Management can help you achieve the right balance of growth and protection so that you can have confidence your assets are safely working towards your personal wealth management goals. We can also help you decide which products, including those which pay an income or a lump sum, are right for you.

For more information contact us today.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Women experience large shortfall in pension contributions

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The study, carried out by Zurich, looked at 250,000 pension plans, making it one of the largest studies of workplace savings. It looked at pension plans broken down by age, gender, and the contribution rate of employers and employees.

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Your Foreign Spouse and Your Pension

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Although in most situations having a foreign spouse is unlikely to affect their possible entitlement to your pension in the event of your death, there are many variables that you should consider as an essential part of your expat financial planning.

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