Key Life Events
Starting a New Job
This is an important time to review your Life Assurance as you may well find that the benefits you would have received in your previous employment no longer apply such as Life Assurance, Permanent Health Insurance, sickness cover etc.
It is important that you find out what would happen in the event of death or illness and ensure that you have enough cover to plug any gaps. If you are becoming self-employed then you will no longer receive any benefits from an employer and will need to arrange your own cover.
If you are getting engaged, married or taking out a mortgage with your partner, you need to think about how you would cope should income no longer be available due to death or illness.
If you have a mortgage, would one of you be able to continue to pay the monthly mortgage bills? And if you have children, would either of you be able to work and look after them if the other was ill? If the answer is no, then you will benefit from protection cover to give you peace of mind.
Having a Child
If you are expecting a baby, you may be considering your finances.
It is important that you make sure that you have enough cover to allow your child to maintain a standard of living you consider adequate should anything happen to you or your partner. It is an uncomfortable thought, but you do need to ask yourself this question. This could mean repaying debts like a mortgage, or it could be about replacing a lost income or covering childcare costs.
Since the ban on smoking in enclosed public places, many people have quit. This means great overall health benefits, and it could also mean savings on your Life Assurance.
The majority of Life Assurance companies offer reduced premiums if you have given up smoking or using tobacco products for 12 months. In some instances, it can be up to 50% cheaper than those available to smokers.
A divorce or relationship breakdown may still mean that you are dependent on your former partner. If you have children together then you will need to continue to pay school, university fees or maintenance payments which may well need to be covered should something happen to either one of you.
If you are working and have custodial rights, then you may need to cover childcare costs.
Our promise to you
Our aim is to ensure that you are made aware of the different types of protection cover available on the market and the benefits these can bring to you. Our protection experts can advise you whilst taking into account your personal requirements.
We want to get you an offer of a tailored protection solution so that you and your family are taken care of should the unexpected happen. Our advisers will also help you when putting your policy in trust for no extra cost.
We will continue to stay in touch once your initial review has been completed and it is important that we review your circumstances as you may need to adjust the level of cover you have over time as your level of income or outgoings increase or decrease.
When do you need cover?
Life Assurance can often be overlooked because it is something people do not like thinking about or because there are, what they think, more important things to do and spend our money on.
If you were to understand the consequences of not having protection, you may think differently.
Speak to our protection experts today to see whether taking out a protection policy is right for you.