Although the following case study relates to an actual example, where we have helped our clients by providing solutions to their financial problems, the names and figures have been changed for confidentiality purposes. 

Emma is head of technical risk with a high street bank, and a lone parent who wanted to make sure there were financial protections in place should anything happen to her.

Lucy put together a package that included decreasing-term life insurance to cover Emma’s mortgage payments; and also income protection, which will pay a percentage of Emma’s income for a period of time if she is unable to work.

Now, if Emma dies, her life insurance will pay her mortgage in full and leave the house to her child; or if she becomes ill and unable to work for an extended period of time, her income protection will make sure she will still be able to cover her mortgage payments and her child’s school fees.

One other benefit in this scenario, which Lucy recommended, and Emma chose not to take up, is family income benefit, which provides a regular income to a chosen beneficiary for a set amount of time, in the event of the policy holders death.

Lucy was able to put together a package of cover which was affordable to Emma and provided the cover, and peace of mind, she needs.