February Protection Update: Are you protected should the worst happen?
In our February Protection Update, our Managing Director Adam Nanson, talks about the importance of protection insurance. Are you protected should the worst happen?
“Latest research from Protection Provider The Exeter, despite health and financial fears, working adults are not adequately protected*. They found that 43% of workers worry about potentially being without an income. Despite this, only 17% have or are applying for income protection and just 31% have life insurance.
“The research also found that the self employed people are least likely to take out protection insurance. This is despite them being least likely to have protection in place through their workplace. We help a large number of self employed people so this is especially concerning for us.
“We believe all people taking out a mortgage should consider whether they are adequately protected for all possible future eventualities. We ask our clients, if something were to happen to you, would your family be able to financially cope without you?
“For example, if you became long term sick, or were made redundant. How long could you or your family cope without your income? If you were involved in an accident and couldn’t work, would you be able to pay your mortgage and other monthly bills? It’s difficult to think about, but an important topic to consider.
“At Your Mortgage Expert, we offer impartial advice on a range of personal protection insurance products to help look after you and your family. Some of these products can be complicated so it’s best to speak to someone to find out what’s most suitable for you.
“If you have read anything in this February Protection Update that you want to find out more about, why not get in touch? We have a page dedicated to protection insurance on our website. Alternatively, give us as call. We can take the time to review what insurances you have in place and whether you have enough to cover you.
Life Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Critical Illness Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse. The policy may not cover all the definitions of a critical illness. For definitions please refer to the key features and policy document.
Income Protection Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
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Life Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Critical Illness Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse. The policy may not cover all the definitions of a critical illness. For definitions please refer to the key features and policy document.
Income Protection Cover: The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.