In our busy life we often enjoy a cup of coffee as the ‘treat’ or even to get 10 minutes to ourselves.
Even 1-2 times per week, is often just the habit we have developed. Costing over £1,000 per year!
However, we often meet clients who will neglect their protection needs on the basis that they ‘cannot afford’ the cover being recommended by an Adviser. It is all down to ‘priorities’ and how we view our family’s needs…
More about affordability:
Following the pandemic, we have all started to re-evaluate our priorities, including how we spend our monthly income. With the cost of living spiralling upwards, we see families starting to struggle and look at ways to cut back. Family cars, food, heating and utility bills are (rightly) the necessities.
For most families, they do not save on a regular basis. They are reluctant to reduce holidays and lifestyle spending. Where a family require all both wages and still find it challenging to budget each month, we are often shocked that they have no form of Income/Salary Protection in place. Illness can strike at any time. Cancers, strokes heart attacks and other major illnesses all have devastating financial consequences.
Often, existing protection was taken in conjunction with a mortgage. This, together with other plans are rarely reviewed on a regular basis. Given that modern cover now offers a raft of added value services (e.g. Access to Private GP, Annual Health Check, Fracture Cover etc) it is recommended that you regularly review all existing cover/monthly payments!
If, for any reason you do not have ‘Income/Salary Protection’ in place, ask yourself; could you survive on one income? If the answer is ‘no’ you should take advice and consider putting protection in place.
For a FREE, no obligation chat with our adviser please get in touch. We can review all protection plans.
