Protection comes in many forms,
you can protect yourself, your possessions, you can even protect against certain events occuring for example if you are skilled enough to acheive a Hole in One at your golf club, the tradition is you buy everyone in the club at the time a drink. This can prove to be a very expensive round so speciality firms offer a protection against this occuring.

More commonly we tend to consider protecting our homes, motor cars and our lives.Home protection is covered in another section on this site so here we will focus on ways of protecting our lives and those that we love.

Life protection should be looked at like a box of tools, no one plan can offer all types of
protection available, for instance, what or who do you want to protect?

  • Your life against death to pay off a debt, a mortgage for instance.
  • Your life against death to pay an income to those that are left behind e.g spouse and young children.
  • Maybe you are a director of a company or a key member of staff and in the event of you dying, your company would lose a valuable and important staff member which could affect the performance and the profit of the company.
  • You maybe in a business partnership. If one of you should die, the surviving partner has not only lost perhaps 50% of the working capacity but also inherits a new business partner if the person who has died was married. The widow or widower is entitled to their share of the income that is produced.
  • Many employers  offer just the statutory sick pay in the event of long term sickness. Would this be sufficient to pay all your bills should you be off work for a prolonged period?
  • Funeral expenses like all other costs have increased and will continue to do so. The average cost now being in excess of £3,600 (source credit action). 

Whilst none of the above are the most exciting  items you can purchase, this does not take away from how important they are in relation to ensuring your loved ones can continue to live should the worst occur. Nobody likes to pay for something that may seem like a waste of money, however what it should give you is a peace of mind that you have done the best you can for those you care most about.

For more information or if you wish to discuss further please contact:

Tel Number: 01708 640855


Twitter: @LifestyleFinMan

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