A helping hand for the next generation

'Millennials’ have many things in their favour. Now in their twenties and early thirties, they are arguably the most educated generation in history and have grown up in a digital era full of new opportunities.

They also face significant financial challenges. Of course, young people rarely had it easy in previous eras. But millennials are struggling with more university debt than any generation to date. At the same time, rising house prices and living costs have made it increasingly difficult for them to get on to the housing ladder.

And while life is a struggle for millennials now, their financial future may not look much brighter. Beset by so many immediate financial concerns, such as paying off debt, meeting the rent or saving for an elusive deposit, investing for a more comfortable future can seem like an impossible task.

Fortunately, it does not have to be like this. There is a solution to the millennials’ financial woes – and it lies in the family. Grandparents, by tapping into their own wealth, can give the younger generation the financial leg up that they so desperately need.

Of course, leaving an inheritance at death to younger family members is nothing new. However, releasing the same money now could change millennials’ lives, both now and in the future. The impact of gifts of any size, either one off or regular shouldn't be underestimated.


Protecting your family

Life assurance still remains an extremely practical and cost-effective way of protecting your family, particularly for families with young children when they may have accumulated less capital to fall back on.

Sudden illness or the death of a parent can be devastating for a family, both emotionally and financially. However, a range of insurance solutions exists to provide a cost-effective way of mitigating these risks.

A lump sum or regular income in the event of your death could be a great comfort. Or if you suffer a critical illness you may want a lump sum to help cushion the blow to the family’s finances. And should you become incapacitated and be unable to work, you may want cover in place to provide you with a replacement income.

We can work with you to establish a realistic and cost-effective family protection plan and explore how including life assurance in a trust might benefit your loved ones.