Risk Clinic: Protecting a single parent

Dale Tranter, Sesame Beverly’s prime need – with no earning partner – is for income protection (IP), particularly given the nerve damage to what is probably her ‘drawing’ arm. As it is not impeding her work, she should not find the latter a barrier to obtaining cover. Beverly’s death is much less likely but would be far more devastating. A lump sum term assurance would settle any outstanding debts such as a mortgage while, to save money, a 10-year family income benefit (FIB) would run until the younger child is 21 and out of full-time education. She might also want to consider critical ...