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The 5-Minute Financial Healthcheck

 

 

 

 

All OK

Needs attention

Urgent!

1. What state is your Will in?

Up to date

N/A

Drafted, not signed

Needs minor change

No Will

Never revised

2. Do you have a recent pension benefits projection?

Yes

N/A

Don't know

No

3. Pensions on-target to retire when you want?

Yes

N/A

Don't know

No

4. Sure you’ve got the best mortgage?

Yes

Don't have one

Don't know

Locked in

No

5. Sufficient mortgage cover (death & critical illness)?

Yes to both

N/A

Death yes, CI no

CI yes, death no

Don't know

No to both

6. Are all loans covered in event of death?

Business & personal yes

N/A

Business only

Personal only

Don't know

No to both

7. Did you purchase insurance from your finance/loan provider?

No

N/A

Don't know

Yes

8. Sufficient available cash to see you through illness?

Yes

Don't know

No

9. Is your income protected in event of long-term disability?

Yes

N/A

Don't know

No

10. Have you protected your family’s income in event of your own death?

Yes

N/A

Don't know

No

11. Financial provision for child-care in event of death or serious illness of non-earning spouse/partner?

Yes

N/A

Don't know

No

12. Is there adequate private healthcare?

Yes

Happy with NHS

Don't know

Needs checking

No

13. Have you recently reviewed your lifecover needs?

Yes

N/A

Don't know

Not recently

Not at all

14. Are there sufficient funds in place to purchase business of deceased or critically ill partners?

Yes

N/A

Don't know

Some, but insufficient

None

15. To what extent is your estate liable to Inheritance Tax?

Protection in place

Below the limit

Don't know

Some liability

Liable & no provision

16. Expecting to receive an inheritance?

No

N/A

Yes - a little

Don't know

Unknown amount

Yes - a lot

17. Are you the beneficiary of a Trust?

No

Don't know

Yes

18. Have you used your full ISA allowance this year?

Yes

Don't know

No

19. Used your maximum pension contribution allowance?

Yes

N/A

Don't know

No

20. More in bank/building society than for short-term needs?

No

N/A

Don't know

Yes

21. Are you getting the best returns on your savings?

Yes

Don't know

No

22. Will you be able to afford school/college fees?

Provision in place

N/A

Don't know

From income

No

Need to review

23. Funding in place to cover Long Term Care?

Sufficient insurance

Funding from wealth

Don't know

Partial funding

No funding in place

24. Are pension/investment risk levels appropriate?

Yes

Don't know

Time to review

Definitely not

Concerned about risk

25. Satisfied with performance of pensions/investments?

Entirely

Would like to review

Definitely not

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