Joint life insurance

joint life cover

But what do you do if you split up with your partner?

Life insurance can give you the precious peace of mind of knowing that any dependents will be financially secure in the event of your death. But if you are in a couple or partnership, should you opt for a ‘single’ or ‘joint’ policy?

If you are in a relationship it might seem obvious to take out a joint policy, but this is not necessarily the best option. See below for the pros and cons of single and joint policies.

Property Investment

Knowing the Risk, Planning & Knowledge

Fear of Risk

Everybody has a personal risk tolerance profile; some of us are quite comfortable with perceived risk while others are highly risk-adverse.

There are six main fears when buying a property:

  • Overcapitalisation – that is paying too much, being ripped off…there are so many stigmas associated with estate agents and concern around agents ripping off undiscerning buyers.
  • Buying a lemon – everyone fears their property underperforming in terms of capital growth when benchmarked against others in a similar area.
  • Troublesome tenants – who either trash the property or don’t pay their rent.
  • Vacancy problems – a common fear is having a property that’s hard to let with low or no tenant demand.
  • Lifestyle sacrifices –  if the property ends up costing more than initially expected resulting in extreme negative cash flow.
  • Market crash – they fear a ‘bubble’ or downturn will strike as soon as they’ve purchased, creating a negative equity position.

All are legitimate fears but there are actions that can address every single one.

Empty nest, empty wallet

Parents putting financial health at risk to fund university costs

When it comes to funding a university education, it is parents and grandparents who typically look to provide the money. But even though this may be the case, last year’s graduates from English universities still left with an average of £44,000 debt (source: Sutton Trust), with some parents still, on average, expecting their children to leave university with £23,000 debt.

Students are closer to the mark, predicting an average debt of £35,000. Students expect, on average, to take 17 years to pay off their debt once graduated; research from the Sutton Trust suggests three in four graduates will be paying off student debts into their 50s.