Have you reviewed your Family Protection Insurance
For the convenience of BPA members, Lighthouse Financial Advice will be running a webinar titled Have You Reviewed Your Family Protection Insurance? on Wednesday 25th November at 7pm. See below for details of how to register.
Recent events have brought home the fact that life is full of surprises and not all of them good, reminding us that having the right level of financial protection in place is essential. And even with protection in place, it’s really worth reviewing it regularly as your circumstances change over the years.
A survey conducted in July 20191 revealed that just 27% of consumers are confident of the levels of financial protection they have in place. The results also show that people tend to overlook potential health issues, instead thinking that an early death is more likely than a serious health condition.
Participants indicated that they think it’s twice as likely that they will die during their working life than have an accident or illness that could stop them from working. The resulting financial pressures can cause huge strain. More than 50% of 18 to 35-year-olds believe that if their health prevented them from working, their savings and investments would last them less than three months.
Trigger points, such as getting married, having children, moving home and taking on greater financial liability, are great prompters to reviewing the suitability of the cover you may already have in place.
Discussing your protection requirements with a financial adviser will ensure you have the correct level of cover in place for you and your family.
As a BPA member you are entitled to an initial complimentary consultation. The initial consultation is designed to discover whether or not you would benefit from advice and there is no obligation on either side to proceed. Following the initial consultation, if you wish to appoint Lighthouse as your adviser they will explain and agree any charges with you before undertaking any work on your behalf.
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