Large Value Asset Protection, Ultra HNI’s for transfer of wealth to the next generation
Protection is just as important for high net worth individuals as it is for those who rely heavily on their income, High Net Worth Individuals can setup large value asset protection which can be used to transfer wealth to the next generation in case of death.
Many High Net Worth Individuals have agreed that they often had large monthly outgoings — such as school fees and multiple mortgages — and the retention of their current standard of living was of high importance to them.
Income protection is very important for this type of client especially where the outgoings came primarily from the breadwinner’s income.
For that purpose, asset income protection is very important for those on a high income. If something happened to the main person who brings in income, the family can be left in a sticky situation if all the other assets are illiquid.”
Many HNI individuals are asset rich, with the main source of liquidity perhaps coming from a high income. High Income and Asset Rich High Net-Worth Individuals need to protect their income and their assets via high value life insurance contracts.