Looking after your family and ensuring that there are adequate funds to cope with the unexpected will probably form the cornerstone of your financial planning. Putting in place the right protection is vitally important at a time when the State is looking to reduce its costs and place the responsibility on individuals.
Illness or the death of a wage earner can plunge families into financial difficulty and this will be the time when there can be considerable other matters that have to be dealt with. Taking time to assess your risks and work out how much money you would need to cover debts and provide your family with an income for the future, should be an integral part of your financial planning.
With all the insurance products now available, a complete programme of protection could be built to meet your needs and it could be adaptable to cater for future changes in your circumstances.
Whether you are concerned with the need to provide for your family if you die or feel that your greatest risk is from illness there is a product to meet your needs. If your partner also contributes to the family income, then you could build a separate plan for them or take out a joint policy covering you both.
For business it is important to look for policies that provide protection to the business should a key person die or be seriously ill, to cover debt liabilities or to provide partner and shareholder protection.
If you would like advice on arranging a suitable protection policy that may benefit your family or business in the event of death, serious or long term illness, reviewing your existing policies to make sure they meet your current and on-going needs then please contact Forward Plan on 01303 76 76 50.