Insurance

Critical illness insurance differs from other types of life cover, as it is designed to pay out on the event that you are diagnosed with one of the illnesses stated in the policy, rather than on your death.

Many people would like to ensure that should they die prematurely, their families and partners would receive some form of financial help. This sort of insurance is generically referred to as life cover.

Life insurance is all about piece of mind - ensuring that should the worst happen the last thing your loved ones have to worry about is money. We make the whole process of applying for term insurance as simple as possible by taking the administration away from you. After completing a simple application form for your life insurance we will deal with the insurers and keep you updated with progress and next steps.

How would you pay the bills if you were too ill to work or made redundant? Unemployment and redundancy insurance, also called Income protection (IP), rather than payment protection insurance, should be your first choice.

Income protection policies are an inexpensive way of providing a source of regular income for as long as you are unable to work because of illness or injury. They offer peace of mind, both for you and those depending on you.

It’s second nature to insure your car, your property, your valuables and holidays – even pets get their own personal cover. But when it comes to looking after the income you need to pay for the essentials and luxuries of life, we find a curious lack of protection.

Income Protection policies are designed to protect a proportion of your income if you are unable to work because of illness or disability. For a monthly premium, it’s possible to ensure that if the worst happens your income will not cease as a result. Speak to Marmalade today about Income Protection and the various plans available to suit your particular circumstances.

Private Medical Insurance (PMI) provides you and your family with access to the best available medical care without having to wait for months on an NHS waiting list. For a manageable monthly premium, you can rest assured that, should a medical complaint, illness or injury arise that is covered by your plan, high quality private medical treatment will be available to make it better! Contact Marmalade for advice on plans to suit you.

Inheritance Tax (IHT) is the tax due from your estate when you die. It is currently calculated at 40% of any amount in excess of £325k (2012/2013). Any unused allowance is transferable between spouses giving an allowance of £650,000. Inheritance Tax Planning is designed to reduce this payment and ensure that as much of your wealth as possible is passed on to your family or other specified beneficiaries.

Inland Revenue practice and the law relating to taxation are complex and subject to individual circumstances and changes that cannot be foreseen.

'Retirement Options' concerns the financial choices available to you when you reach retirement age. In principle, the process works by using pension benefits to both realise a lump sum and purchase an annuity, which, in turn, provides an income over the duration of your retirement.

Make your pension work as hard as you've done!

Having salted away money during your working life, it's time to enjoy the fruits of your labours. But first, you have to decide what to do with your pension benefits. Do you take a tax-free lump sum? How much risk do you want to take? What sort of annuity suits you best? There are lots of providers and lots of different products to choose from - not all will be right for you and your circumstances.

Thankfully, Marmalade can do the legwork for you, shopping around is always a good idea whether it's for a car, a holiday or an annuity. It helps to get the best value for money and product for you.

Cash or income?

Your pension plan will almost certainly allow you to take part of your pension fund as a tax-free lump sum. The maximum cash you could receive will depend on Inland Revenue rules. You will need to bear in mind that taking part of your fund will reduce the amount you have available to provide an income.

Now or Later?

You may decide that you don't need any additional cash or income at the point of retirement. In this case you can delay taking your benefits. Most pension plans allow you to delay taking your benefits.