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financial audit

Liam asked us to review his existing protection plans and provide advice on the level and type of cover he should have. The review was prompted as he had recently changed jobs and his new employer did not offer the level of cover provided by his previous employer.

Liam is a married man with two young twin girls, and a wife who suffers from a medical condition, which means that she is unable to work. When they approached us the family were in the process of buying a new home and Liam had concerns about the level of mortgage protection in place.

Our initial work was to undertake a review of his current situation and obtain information on his income, family expenditure and available budget for cover. We call this a ‘fact find’. We subsequently completed an audit of his existing plans to ensure they were at an appropriate level and competitively priced.

The outcome of the financial audit and fact find identified his priorities were to ensure he had a minimum level of income replacement to cover current expenses, should he die or suffer a serious long term or critical illness. He also wanted to ensure the mortgage was paid off on his death or illness, so his family could live in the new house of their dreams, indefinitely.

Liam had four times his salary as death in service cover at work, but he chose to ignore this in case he changed jobs and no cover was on offer by the new employer.  He placed this cover in trust for his two girls.

We agreed a monthly budget and we were able to provide suitable cover to meet all his goals within this budget, including protecting cover levels against inflation.


Liam, as one would expect, cares deeply about his family and therefore is thankful for the peace of mind, that they are fully protected should he suffer a critical illness or die.

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