Is your family protected?
As well as being well loved by your family you are also extremely financially valuable to them.
How would they manage if you were no longer around earning income or looking after the children and running the household? We don’t give a second thought to insuring our homes, personal possessions and cars but have we got our own lives properly insured should the unthinkable happen?
If you have dependents you should…
Firstly ensure that your debts such as mortgages and longer term loans are covered by suitable life assurance so that if anything happens to you, your loved ones will not have the immediate pressure of having to manage loan payments.
Secondly, consider what income they would need to meet all living costs and take advice as to how best to insure your life to provide this income if you were to die.
Critical Illness Cover
As the name suggests, if you were to suffer a life-changing illness or accident and were unable to work for a long time or even ever again, critical illness protection could provide you with a lump sum to clear debts.
Clearing your debts may be the first stage to consider but you will also need to cover your ongoing living expenses.
An income protection plan will pay you a tax-free income from the date your claim qualifies until the end of the policy, usually set to your anticipated retirement age.
Can you afford not to protect yourself and your loved ones?
Protection comes at a cost but so does not having protection.
As independent financial planners we examine all of your options, tailor a plan to suit your circumstances and then source quality protection products from the whole market. We identify products that will meet your needs whilst keeping a close eye on your own personal budget. Where compromises have to be made we will prioritise those areas that are most critical and will build you the best plan available within your budget.