Life Assurance

If you died or had a critical illness will someone you care for suffer financially?

Take care of your loved ones

Protecting your family against financial hardship in the event of the early death or critical illness of key members should be standard practice, and many of us have policies filed away only brought out and read when something happens, at that point it could be too late!

Life Assurance premiums have reduced in recent years due to improved mortality and it may be that you are paying too much for your current level of cover and could improve your family's protection with no increase in cost.

We regularly check our client's policies, comparing them to what is now available and if we can get better value for money. 

Are your existing policies written in an appropriate trust?

...if not you could be creating an Inheritance Tax problem.

Writing the benefits of a life assurance policy in trust has two advantages:

  • The payment can be made immediately upon the death of the policyholder, rather than having to wait until probate is awarded.
  • The amount paid out is not subject to INHERITANCE TAX (IHT)

(Tax payable after you die on the value of your assets in excess of a certain threshold value. Certain gifts between husband and wife are exempt. IHT is also chargeable in certain circumstances while you are still alive).

At P J McIlroy & Son we research rate driven plans such as life assurance at an individual level and in real time using the IRESS Exchange Portal.  This allows us to access real time market rates ensuring that you get the most competitive solution available at the point you gain our advice.

Critical Illness

Critical Illness is something that should not be bought on price alone, as all policies differ in both quality and the extent of cover.

We use CI EXPERT(TM) software to compare existing plan cover with any proposed new cover, this allows us to look at your plan and compare its level and extent of cover in detail which is then discussed with you prior to any alteration with a copy of the conclusions forming part of our protection report.

To find out more about Life Assurance please have a look at our factsheet. Or email ifa@pjmcilroy.co.uk