View more on these topics

Thanks for asking!

Karen PlayfairSenior Marketing Consultant

A few months ago my brother casually dropped into conversation that he hoped it was ok that he’d put me down as the guardian of his three daughters in his will if something happened to both him and his wife.

I was pleased that he’d thought about his will and guardianship of his children but really shocked that he didn’t seem to realise what a serious request this was, and the ramifications for me, and them, if the worst happened.

I suppose that because I work at Royal London, I’m pretty well informed compared to a lot of people, so I made it my mission to make sure my brother was too! We talked about what this would mean for me – moving from Scotland to the South of England and giving up my job resulting in loss of income. I explained to him that he would need to have some protection in place for this eventuality, which would allow me to do all of the above and still have the funds to look after and bring up his children in the way he and his wife would want. As a result, he put the relevant policies in place and we now all have peace of mind.

Of course, we all hope that such an awful tragedy won’t happen, and fortunately the chances are very slim, but we need to make sure our families are looked after if we’re not there to do it for them.

There are lots of other far less extreme circumstances that your clients need to think about if they have children. Royal London’s Good Parent Portfolio can really help you talk to your clients about the different aspects they should be considering to ensure their partner and children are protected in a range of different circumstances – most of which they probably don’t want to think about.

Some good questions for your client might be:

  • Do you have life cover in case you die?
  • Do you have critical illness cover in case you become seriously ill?
  • What about if you had an accident or illness that wasn’t critical, do you have income protection?
  • Do you have enough money to pay off loans and maintain your lifestyle if anything happened to you?

Using a more holistic approach to your clients’ protection needs means that you’re not only giving them cover, but you’re treating them fairly too. And we can help you do this with the Good Parent Portfolio.

Recommended

Business-Growth-Drawing-Chart-Performance-700x450.jpg

NatWest to raise residential and buy-to-let rates

NatWest is raising rates by up to 0.20 per cent on residential and buy-to-let loans for the second time in a month. The firm says it is making the increases due to expectations of a base rate rise. The lender will increase rates by 0.20 per cent on its residential first-time buyer two- and five-year […]

EU-Euro-Europe-Eurozone-700x450.jpg

Europe debates self-cert securitisation ban

The European Parliament is debating tweaks to laws that would ban the securitisation of self-cert mortgages. The EP is today discussing draft Securitisation Regulation laws. If passed, the current version of the laws would ban lenders in the European Union from securitising mortgages where consumers self-certified income. The parliament is debating an amendment that would […]

Money, cash

Paragon launches portfolio and remortgage loans

Paragon has added four two-year fixed portfolio mortgages, starting at 2.99 per cent at 75 per cent LTV. The new loans cater for limited companies, limited liability partnerships and single self-contained units. They also include options for HMO specialist property types and multi-unit blocks. The new products have no application or valuation fees. Remortgage Paragon […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]

Newsletter

News and expert analysis straight to your inbox

Sign up