Protection + Risk Review Case Study
Understanding what level of protection benefits ensure the maintenance of an existing lifestyle can be difficult.
- The client wished to understand what level of protection benefits they would require to ensure their family’s lifestyle can be protected in the event of a catastrophe.
- The client wished to consider a course of action that balances affordability with the need for adequate protection.
- The client wished to ensure benefits continue for at least the years of children’s dependence.
- After reviewing the client’s circumstances, we provided a detailed report & recommendations outlining the most appropriate course of action.
- We recommended a lump sum benefit to provide for a rainy day fund, funeral expenses, start in life gift for children and to allow short term debts to be cleared. We also included a monthly income benefit payable to the family that would allow the current lifestyle to be maintained.
- Within our recommendations, we priced different options taking account of affordability.
- The client gained peace of mind in knowing that their family’s lifestyle was protected.
- The client now knows exactly why a specific level of benefits is required.
- The client understands how the protection is structured from an estate planning perspective to ensure timely payment of benefits.