Why do we hesitate to protect ourselves?

Have you car insurance? home insurance? mortgage protection? Do you ever think about the financial security of your family should they lose their main provider through death. Statistics show that people are more likely to insure their cars and homes than themselves. Why are we so hesitant to protect both ourselves and our families lives?

Perhaps it is the mandatory nature of car, home and mortgage protection cover that makes it so much more acceptable. In reality, however, protecting your life is critically important - especially if you have dependants who may have to face an uncertain financial future in the event of them losing you.

If you have people dependant on your income generating ability such as a spouse and children you really ought to be taking measures to ensure that their financial wellbeing is secured in the event of your untimely death. Now is a good time to take stock.

Stop, Think and Ask Yourself

• Do I have dependants who rely on me and my income and who would be at a major financial disadvantage if the worst were to happen to me?

• If the answer is yes and there is none or not enough Life Assurance cover in place then you should consider doing something about it.

• Questions that need to be asked and advice that needs to be sought around this include:

- How much cover should I have?

- Will this provide for my dependants future financial wellbeing

- Do I have other liabilities that need to be covered?

- What type of cover do I need and for what period of time?

- What is the cost and how do I go about getting best value?

- Do I need to cover my spouse's life also?

Why do we hesitate? There are many reasons why people are slow and reluctant to put in place appropriate and sufficient Life Assurance cover.

• It's discretionary and therefore not prioritised – it should be though.

• There is a fear that it is hugely expensive - in general this is not the case and certainly not as expensive as you might think.

• Maybe you feel that having Mortgage Protection to pay off your mortgage is enough - it's generally not.

• How do I start?? - it's easy, seek good advice.

As part of a thorough financial planning review, we look at all of these things. We can then help you set your financial goals and select the products that are most suitable. We'll help you to:

• Identifying what type of cover you need.

• How much cover you need and the cost.

• Helping you choose the most appropriate policy for your needs.

• Assisting you through the process of putting the policy in place.

• Carrying out regular reviews to take account of your changing circumstances.

Why not resolve to do something today? Give us a call, we are here to help.