Why is Protection so important?
You will most probably be familiar with how you protect your property, using buildings and home contents insurance. Are you as familiar with protecting your greatest asset – you?
A mortgage is likely to be the greatest financial commitment most people make. Your home (or buy-to-let investment) relies on your income to repay the loan. Events that could stop you earning enough to repay your mortgage are:
- Short-term or long-term illness
- An accident
- A serious illness – such as cancer, stroke or heart attack
- Death (yours or a partner)
There are events we can all face that have the potential to wreck lives and families. It’s a difficult issue to think about, but imagine the impact on you and your family should the main earner in your household die or become seriously ill. It may not happen to you – we hope it doesn’t – but it might.
We take pride in offering a personal service that‘s tailored specifically to your individual circumstances. As you’ve seen, threats to financial security exist for all of us but the protection needs of you and your family are unique. That’s where we can help.
Once we’ve established your needs we’ll then research the most suitable products, before designing a bespoke solution that’s tailored specifically for you. We understand that you don’t want to spend money unnecessarily, so we will recommend solutions that offer the best possible cover for your budget.
Take a typical non-smoking couple aged 40 for example; before they reach 65 they each run the following risks¹:
- 8% chance of dying
- 22% chance of being diagnosed with a critical illness
- 49% chance of being unable to work for 2 months or more
- 56% likelihood of any of these events happening
LV= Risk Reality Calculator, accessed 30.09.2020
While there is no insurance that can prevent these things from happening, you can protect yourself and your family financially by making money available, should something unexpected happen. This money can be the difference between keeping and losing your home, and maintaining your family’s lifestyle.
Get in touch for more information on financial advice in Newport or for financial planning services in Cardiff.