Liberty Partnership

IFA Cambridge: What Are The Benefits Of Having Life Insurance?

IFA Cambridge: an independent financial advisor is a resource that everyone should have access to. By taking advantage of the wealth of experience and knowledge that financial advisors have, you can discover how to make your hard-earned money work better for you. Life insurance is just one aspect that an IFA can assist with.

Having life insurance is something that the majority of financial advisor Cambridge based experts would recommend. It provides a cash pay-out to the named beneficiaries in the event of the policy holder’s death. The amount of the pay-out will depend on the type of policy purchased. It will also depend on either how much has been paid into it during the life of the policy; or how much has been set as the premium. Cambridge financial services such as an expert IFA will be able to guide you through the options to decide on the right policy, not only for you, but for your beneficiaries too. There are many advantages to having life insurance. For instance, generally – although there are exceptions which your financial advisor can discuss with you – life insurance pay-outs are tax free. Your estate after you die, on the other hand, could be subject to inheritance tax, which may amount to 40% on assets over £325,000. With life insurance, your beneficiaries will receive the full amount. Life insurance is also a flexible way of ensuring that those who need to be provided for after your death have enough money to live on. This flexibility means that you can change the amount that will be paid out if and when you need to.

Making well-thought out arrangements in terms of life insurance will give you peace of mind. Contact Liberty Partnership Ltd on 01778 342291 or advice@liberty-partnership.co.uk to speak to an IFA Cambridge about your options. We tackle more than just life insurance – take a look at our website at https://liberty-partnership.co.uk for a list of all our services.