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December 16, 2021

Protecting Child Maintenance on Divorce


in Financial Planning Insights Lifestyle

Have you considered what would happen if the person paying your child maintenance becomes seriously ill, or dies prematurely?

Jo is the main earner and an agreement has been reached where Jo pays £1,000 a month to John, until the youngest child reaches age 18.

If something happened to Jo, there would be a clear financial detriment to the kids.

A simple solution is to arrange life insurance and critical illness cover on Jo’s life.

The life insurance can either be paid as a lump sum, or a tax-free income. With the critical illness a lump sum only.

Please contact Tori for more information.

N.B. Life insurance is not a savings or investment product and has no cash value unless a valid claim is made.