Quite often you hear ‘it could never happen to me’ or ‘I’ll sort it out later’. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on Protection Insurances.
It is commonplace that the money paid out on these Insurances can be the difference between keeping or losing your family home, and maintaining your family’s lifestyle. As one would imagine, there are many types of Protection Policies to choose from, and finding the right policies that provide you and your family with adequate cover and the right protection is not as easy as you may think in a marketplace that is over-saturated with differing products, fine-print, and complicated jargon…..
Generally, people are oblivious as to the impact certain life events will have on themselves, and their families, and the relevant measures that should be in place to minimise this impact, at least financially.
As Mortgage and Protection Advisors’ we can assist you in tailoring a Protection Plan that suits your needs, and provides you and your family with that “peace of mind” in the event of a worst case scenario occurring.
Take a typical non-smoking couple aged 40 for example; before they reach 65 they each run the following risks:
- A 7% chance of dying;
- A 22% chance of becoming seriously ill;
- A 54% chance of being unable to work for at least 2 months; and
- A 61% chance of one of the above events occurring.
*Source: LV = Risk Reality Calculator May 2019
To see the value of protection watch Craig’s story (Critical Illness)
And Clare’s story (Life Insurance)