Advertising feature: I often ask clients what the most important thing to them is. Nine out of ten times, they answer the same – family. Me too.
Despite this, many have insufficient protection. Whether that be in the event of death, critical illness, or long-term sickness. There is no judgement in this statement, just a conclusion from experience. If I ask, “what do you insure?”, the responses include cars, houses, pets, phones. Unfortunately, rarely the biggest asset of all, the asset that pays for all these things – themselves.
Sadly, we hear all too often of heart-breaking situations. A young mother diagnosed with cancer. A self-employed person seriously injured so cannot earn. The death of a partner leaving behind no financial support. In 2018, in England alone, there were an average of 868 cancer diagnoses every day (source – www.gov.uk) and across the UK 541,589 deaths from four main serious illnesses were recorded (source – www.ons.gov.uk). These statistics are stark reminders.
Conversations around these situations are difficult. Nobody wants to consider it happening to them, but my job is to plan for all eventualities. A sound financial plan with holistic advice considers all aspects of a client’s financial position, now and in the future.
Protecting you, your family or your business should be top priority. Easing the emotional burden is hard, but the financial impacts can be lessened. Insurances do cost money, but the cost of not having them is far greater.
Protection covers many areas – mortgages, critical illnesses, life insurance, income protection, inheritance tax provisions, key business insurance. The list is long and varied. If you have not had a recent review, do not put it off any longer and contact me to seek the important advice you greatly need.
Next week’s feature will be talking through how you can plan for a comfortable retirement.
For more details please contact me on 07946 183512