Is your family protected?
Most of you will have insured your homes, your cars and maybe even your mobile phones, but what about your income and your health?
Falling ill, losing your job or even dying are things that none of us want to think about, and understandably so. But – and this is a big but – it's something we owe to our loved ones and family.
This topic becomes even more important if you fall into one or more of the following categories:
- You have a partner and/or children who are financially dependent on you.
- You have a mortgage or other debts.
- You don't have savings that you could fall back on should something happen.
If this describes your current situation, let's explore three ways you can help make sure your family are protected.
Income Protection Insurance
One of the most valuable strategies is income protection insurance. This type of cover has been specifically created to provide you with a regular tax-free monthly payment – usually around 60% of your gross pay – if you find you can't work due to illness or injury. This will continue until you are able to return to work or the policy comes to an end, giving you a safety net to help cover bills and outgoings until you are back on your feet.
Critical Illness Cover
In a similar vein, critical illness cover will provide you with one tax-free lump sum of money if you suffer a critical illness listed in the policy. Not everyone will need both this and income protection, but if you have any debts, are paying a sizeable mortgage that your income protection insurance wouldn't cover, or need to make any adaptations to your home, it could be a lifeline.
It's estimated that around 70% of people still don't have life insurance in place. For many families, this could mean that if their partner were to suddenly pass away, they would struggle to cope financially and perhaps have to sell their family home. Life insurance takes worries like this away. It provides you, and those you love, with the peace of mind that they'll be safe and looked after, even if you can't be there.
For help finding the right life insurance, critical illness cover or income protection to protect your family, contact us on 01978 806505 or email@example.com to arrange a free 60-minute consultation. Alternatively, you can fill in our contact form and we will get in touch with you.
Belgrave Wincham Limited is an appointed representative of ValidPath Limited, which is authorised and regulated by the Financial Conduct Authority under FRN 197107. Belgrave Wincham Limited is registered in England and Wales number 12167416.
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