Life as we know it has a beginning and an end. How far one is from the other depends on many things with differences most marked when it comes to location.
One startling statistic I read recently is that of today’s 20-year-olds, just over 1 in 4 will become disabled before they retire. Life goes on. Job are lost. Hurricanes happen. Plans fail. People get sick. We might not be able to do much to stop some events occurring in our lives but we can do something about the consequences. We can prepare.
We can’t predict what the future will bring. But we can consider the risks and be prepared if things don’t go to plan. And with our help, you can get ready for tomorrow.
This means thinking about what’s important to you, for example, your family, your lifestyle and our home (rent or mortgage), and making sure they’re protected.
More than one in six working families would receive little or no help from the state and see their income drop by a third, if the main earner became unable to work.
Source: Association of British Insurers
To work out whether you need protection and what type of protection you might need, it’s important to look at the whole picture. What savings do you have? Do you have a mortgage or any debts you need to pay? Do you already have any insurance products, and if so what do they cover?
No two people are the same. The type of protection you need will depend on your personal circumstances and stage in life. TRUE Financial Planning looks at life in detail and asks questions such as: How old are you? Are you married, single, divorced? Are you in good health? Do you smoke?
Consider the following:
- If you have a partner or children, will they be able to maintain their current lifestyle without your income? If not, and you want reassurance that they will be able to cope financially without you, request a meeting so that we can talk about how a lump sum or regular payments can be made available to your dependants through a life insurance policy, if you were to die unexpectedly.
- If you were unable to work due to illness or injury, would your income continue unaffected until you were fully recovered? If not, request a meeting so that we can discuss how your income can be supplemented through income protection insurance.
- If you were unable to work due to a critical illness, would you like access to a lump sum to provide the level of treatment and care you need? Request a meeting so that we can see how much such cover would cost.
- If you or a member of your family were to have an accident or become ill, you would want the best, immediate medical care available. If you don’t think you will get that through the state medical care system, request a meeting so that we can discuss how you can make provisions for private care.
To borrow from Winston Churchill, if our advance worrying becomes advance thinking and planning, life will be better. And that’s a fact.