We would all like to think we are fit and healthy, and will be for the rest of our lives, but unfortunately, this is not always the case, as accidents and illness can happen at any time to anyone.

Whilst most of us protect our cars, our home and our possessions, this is not always the same with the most valuable asset, our ability to provide for our loved ones.

How would your family manage if you could not work due to an accident or illness, or worse still, pass away?  Without a regular income, it can be a challenge just paying for everyday essentials like food and power bills, let alone bigger ongoing bills, such as mortgage or rent payments, with any savings potentially eaten away very quickly.

Insurance is therefore relevant no matter what stage of life we are in and is never a luxury.  You may go for years without making a claim, but if that day comes, not having to worry about money to pay bills and look after your family will mean you and your family can focus on the non-financial things that matter.  Having money available when you need it most, is what makes insurance so valuable.

Do you have enough cover, and is it the right cover?

As with all other areas of financial planning, everyone is different, and that is the same when considering this question.  There are different insurances which provide different things, so understanding your personal situation and needs, ensures a tailored financial plan appropriate to meet your requirements can be put together.

The main personal insurance areas are:

  • Life Insurance
  • Trauma (Serious Illness) Insurance
  • Total & Permanent Disablement Insurance
  • Income Protection Insurance