Why is it that so many of us think nothing of insuring our most treasured possessions; the home, the car, the phone, but just not ourselves? The ABI estimate that 1 in 4 breadwinners do not have any insurance in place if they were to become ill and not be able to work or worse.
Life insurance is an important consideration particularly if you have dependants. The policy is there to support loved ones, pay off debt or inheritance tax bills, and can be relatively cheap.
A vital ingredient
At Resolve it’s our ambition to help you become financially organised, understand the choices you have, and make good financial decisions. Therefore, when we are looking at your mortgage and life plans, we are duty-bound to bring up questions on what provisions you have if you became ill and were unable to work.
Often, when the conversation turns to discuss protection, client perception is that it’s just another sell. We wouldn’t, however, be giving good advice, if we hadn’t pointed out the risks and how to protect yourself if there was bad news in the future.
As an advisor with over 15 years’ experience, I have seen many changes in financial services. The life protection sector, in my experience, is the most dynamic and proactive product area. The providers are constantly listening to their customers and trying to be innovative in their product development. Rarely does a week go by without a product provider announcing an enhancement to their cover.
As an example, I met with a couple recently to discuss a protection need. They knew they wanted to put something in place in the event of one of them dying and so we talked through the options, as part of the discussion we discussed some of their life goals. As it turned out returning to the gym and getting fit was on the list. Following this discussion, we were able to source a life insurance policy that suited their needs and came with the added benefit of a discount at a local gym.
The client said;
“Six weeks ago, I joined the gym. I had always wanted to …for myself, my overall fitness, and my mental health…. I have already started to notice major differences to not just my body shape but my mental health. My moods have really improved, and I’ve realised I’ve felt less anxious over the last few weeks.”
Mrs. W of Sussex
Today, life insurance is just as important as its always been, however, we want you to know that you can expect more from the protection providers. From discounts for fitness centres and gym equipment to Amazon gift cards, leisure vouchers such as cinema tickets or even spa vouchers! We can help to find the right policy for you, making your money go further and ensuring you have a healthy financial plan. Get in touch today for further information.
Life assurance plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.