Life is unpredictable, but preparing for the unexpected can provide peace of mind and financial security for you and your loved ones. Whether you are considering life cover or re-evaluating your finances, it’s always important to plan for the future.
Cost-of-living pressure
With inflation remaining high, and continuing to affect household budgets, dealing with price rises could be difficult especially for those on fixed incomes. While not all types of insurance are indispensable, it’s important to think carefully and consider your future financial security.
Why is life insurance important?
If you were to have no life insurance in place what position could this leave your family in, should the unthinkable happen? It’s more important than ever to have protection. The policy pay out can cover expenses such as funeral costs, outstanding debts and can provide ongoing financial support for dependants, after the loss of a primary income earner.
Always plan for the future
Planning for the future goes beyond life cover. It requires long-term goals and taking the right steps to achieve them. By taking steps to prepare for the unexpected you can provide financial security for you and your loved ones, giving peace of mind knowing those closest to you will be taken care of if you’re not there to provide for them.
Although it may be challenging to afford insurance, with the uncertainties of life, it’s always important to plan ahead and provide a safety net. It’s essential to act now, if you are able to, as you could face higher premiums when starting a life policy at a later date.
Advisers are there to provide guidance on the most suitable protection plans for you. Updating your life cover to reflect changes in circumstances will also give you the most appropriate level of cover.
For more information, contact your adviser who can support you and discuss the options available to you.
If you’d like to discuss the options available to you, contact your adviser today.
Source: Mortgage Intelligence (Published May 2023)
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