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Protecting Maintenance

Protecting Maintenance

I have agreed a financial settlement for our divorce, which includes maintenance payments from my husband, but what if he were to die?

Client Circumstances

  • Mrs Driver, aged 49
  • Recently divorced
  • Maintenance from ex-husband (age 53) of £1,030 pm
  • Maintenance ceases at age 60
  • Pension income commences at age 60 (from Pension Sharing Order)
  • Concerned about loss of maintenance in event of ex-husband’s death

Recommended Solutions

  • Arrange Family Income Benefit cover
  • Arrange on Life of Another basis
  • Fixed term of 11 years
  • Benefit £1,030 pm to age 60
  • Premium £15.82p,* (based on presumed good health/non smoker)

*Source: Avelo comparison quotation system 05-01-2012

Benefits from advice given

  • Peace of mind
  • Replaces maintenance in event of ex-husband’s death
  • Replaces maintenance until pension commences
  • Policy owned and controlled by Mrs Driver
  • Premium can be included in agreed maintenance payment
  • Advice is obtained from a Resolution accredited specialist adviser
  • State pension “substitution” is undertaken via Scrutton Bland

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