Tuesday, July 26, 2016

Hot Topic - Whole of Life Continuation Benefit

In this life, nothing is certain except Death and Taxes …. & Whole of Life Continuation Benefit!

Paving the way for the next generation is part and parcel of our progress through life. As we get older, we wish for the success and prosperity of our children and grandchildren. 
Starting a Whole of Life plan could help ensure that your family is not burdened by inheritance tax on the assets you want to pass on to them.
Whole of Life, as you'd expect, is an insurance plan that lasts for a whole lifetime, and is not limited to a specific term. If you pass away, this policy will provide a lump sum payment to your family. It can also provide tax-efficient inheritance planning cover for your family, so as not to impact their inheritance.

How does it work?
When you take out a Whole of Life insurance plan, we'll help determine the level of cover you need. It will depend on your circumstances and those dependent on you. You will then pay a set amount on a regular basis, usually by direct debit. The policy will then pay out a lump sum to your family, should you die. The premium is also guaranteed never to increase.

Product Features
Secure: Life Insurance means your loved ones are financially protected if misfortune strikes.
Tax-efficient: This plan can cover the inheritance tax your family may be liable for if you die.
Flexible: You can choose optional benefits for additional peace of mind.
Considerate: Lump sum payment may be used to cover funeral expenses.

Who is Whole of Life Cover for?
This plan will suit people who wish to have cover for the rest of their life - and not just a specified term. It will appeal to those who have assets that they wish to protect against inheritance tax. Whole of Life Cover can be taken out by anyone aged between 45 and 74 years of age.

Inheritance Tax
Your family may be liable for inheritance tax on your assets when you die. This can be a massive burden, forcing them to borrow money or sell part of the inheritance you leave them to cover their tax bill. Whole of Life Cover removes this burden and protects loved ones from a large inheritance tax bill.
If you’d like more information, please give Michael a call on 086 8440541 or email info@mkfinancial.ie.

Michael Keville T/A MK Financial is regulated by the Central Bank of Ireland

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