Quigley's Fine Wine and Champagne Merchants is looking to take out some business protection in the event that one of the four directors dies. All four - Ryan, Steve, Dave and Jack - are in their mid-forties and in generally good health, although Steve had a mild heart attack a few years ago. What issues should they consider?
Jack and Jill are professional actors in their mid-fifties, based in London, with a variable rate mortgage of £800 a month. They work pretty regularly and do tutoring or administrative work when acting work is poor. They would like an income protection (IP) policy with a benefit of £1,500 a month but with a premium that reflects the irregularity of their earnings. What would you recommend for them?
Gordon, 58, wishes to take out a private medical insurance (PMI) policy. He is in generally good health but works in an extremely stressful position as a highly paid civil servant. However, due to the recession, he will probably find himself retiring within the next year or two with a generous pension. What issues should he be looking at?
