Nobody likes a bad news story, or hearing about how peoples’ lives have been affected by a tragic twist of fate or a sudden life-changing illness or injury, but it is an unfortunate fact that sometimes the circle of life turns to impact a family member or loved one… or even ourselves.
It is also true that one of the most important roles we play as Chartered Financial Planners is hoping our clients consider and prepare for such circumstances… it can be sobering to consider our mortality, however, our clients tell us that the confidence and peace of mind they feel having discussed and made provision for all of life’s outcomes allows them a great sense of positivity.
Take critical illness for example, could you afford to continue to cover all of your household financial outgoings if you were unable to work whilst you underwent prolonged hospital treatment of recovered from an accident? Would your family be able to cope with that threat of financial insecurity, alongside the emotional support that would be needed from them? Would insuring yourself, along with your partner or spouse, negate that awful prospect?
A recent report by Avida, one of the nation’s largest providers of Critical Illness Insurance, Life Insurance and Income Protection Cover, underlines the benefits of having a safety blanket stored away… just in case.
In 2017 the insurer paid out over £900 million worth of claims, helping over 25,000 people with 98.9% of life insurance claims paid out; 93.2% of critical illness cover claims paid out and 88.8% of income protection claims paid out.
With 25 years’ experience helping individuals, families and businesses to place their financial affairs in context with their future goals and aspirations, The Financial Planning Group are here to provide a simple, structured, disciplined and reviewable planning service. We will change the fundamental relationship people have with their money to give them confidence and clarity in their own futures.
If you have any questions regarding ensuring your family are fully protected, please call Tim Norris on 0800 731 7614 and we would be delighted to arrange a meeting at our offices in the heart of Teddington.