Miss M approached Neil at Banks Wealth following her diagnosis with MS. She was aware she had a number of policies for life cover which may have included critical illness but wasn’t sure. Despite being a higher rate taxpayer and accomplished professional she claimed that her personal financial planning was beyond her understanding. This was reinforced when all her financial paperwork was provided to us in a series of carrier bags.
By sorting through her paperwork we were able to establish that yes she did indeed have some critical illness cover. We were able to guide her through the claims process and help make sense of her financial position.
Following the payout of a successful claim on four separate policies from two separate providers, Miss M was able to consider her options. Whilst ill, she is still able to work for the foreseeable future. We needed to give advice that took into account a number of things including the fact that she would in all likelihood, need to retire early. Therefore, she was advised to make a substantial contribution to her pension plan. This contribution benefited from 40% tax relief because of her circumstances.