Products & services

Why think about inheritance tax?
It is not only the wealthy who are affected by inheritance tax. Every year‚ thousands of ordinary families end up paying inheritance tax unnecessarily.

In his pre-budget speech in October 2007‚ the Chancellor announced changes to inheritance tax that will be introduced in the Finance Bill 2008.

• From April 2008 the inheritance tax threshold for individuals will be £312‚000
• For married couples and those in civil partnerships it will rise to £624‚000 immediately

What are your options?
Inheritance tax can be avoidable with a little advice and planning‚ and your financial adviser can explain how it works and recommend how to plan your finances. This could spare your loved ones the burden of inheritance tax.

If you're planning to give a big sum to someone after you've gone‚ you could think about starting an annual gift plan. This will reduce the amount of inheritance tax your estate will have to pay.

Why think about long-term care?
None of us know what the future has in store. With luck‚ we will be able to work and save right up until we retire‚ and then live comfortably for many years to come. However‚ it may be worth thinking about how any unexpected eventualities may affect your life.
Your financial adviser can talk you through a number of products that can help make sure you and your family are still able to live comfortably should you suffer an accident or debilitating illness.

What are your options?
The cost of long-term care‚ whether in a residential care home or in your own home‚ can be very high. Unless your savings can cover these costs‚ it may be a good idea to consider insurance products that protect you against unexpected costs‚ and offer other benefits too.

• Life insurance
  This offers two options:

1) Term insurance - You pay into a policy that pays out if you die within a specified term – usually between 10-20 years.

2) Whole of life insurance - Guarantees to pay out to your family regardless of when you die.

• Income protection
  This kind of policy pays a regular income if you become ill or injured and are no longer able to work. It may be particularly beneficial if you are self-employed.
• Critical illness cover
  This type of policy pays a lump sum if you contract a serious illness. This would help ensure you receive the proper care you would need‚ and that your home could be adapted appropriately if necessary. The illnesses covered vary from policy to policy‚ and your height‚ weight‚ lifestyle and medical history will be taken into account. Your financial adviser can recommend whether long-term care is an important consideration.

How to book

• To book a place at a seminar or to make an appointment for Independent Financial Advice call 0845 685 1077. (Please quote ref: ALL 721)
  
  Lines are open 8am - 7pm 7 days a week

• Visit your local trading Age Concern
  

Age Concern Enterprises Limited is authorised and regulated by the Financial Services Authority registered in England and Wales No.3156159. Registerd Office: Astral House‚ 1268 London Road‚ SW16 4ER.

The Co-operative Independent Financial Advisers is a brand name of Co-operative Bank Financial Advisers Ltd. Authorised and regulated by the Financial Services Authority. Registered Office: PO Box 101‚ 1 Balloon Street‚ Manchester M60 4EP‚ England. Registered Number 718903. A subsidiary company of The Co-operative Bank plc.

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