Protecting against the unexpected isn’t negative thinking, or assuming that the worst might happen. It’s about making sensible provision to ensure that investments and plans will continue running whatever happens in life. That protects you, your family and any assets.
But here are some worrying facts: Nearly a third of homeowners (31%) say they would only consider purchasing protection insurance if they fell ill** – and that’s too late to support them financially if they couldn’t work.
Other triggers for taking out protection cover include a change in employment status (25%) or having an accident (24%), while 22% say there is no circumstance that would make them consider purchasing a protection product.
Reasons for NOT taking out cover include:
- Not thinking they need it (28%)
- Believing it to be too expensive (25%)
- Not being able to afford it (22%)
Don’t regret it
Unfortunately, once people experience a change in their circumstances, it is often too late to protect themselves. Most protection policies do not offer backdated cover, meaning that homeowners could find themselves in unnecessary financial difficulty as they try to meet their mortgage, bills and other essential payments.
And, with the survey also finding that one in seven (14%) people regretted not having financial protection in place that would have supported their mortgage payments in the past, it is clear that many people wish they had better understood the true value of protection.
Be one step ahead
We can help explain the implications of having no protection insurance for you and your family, and help you find suitable and cost-effective products to protect you financially – before it’s too late.
Here’s an example of how some careful advanced planning later helped a family in unforeseen and distressing circumstances, at a time when they needed help and support most of all.
For more information on how you can protect your family and your finances should the worst happen, call us now on 0808 1234 321 to arrange a free no obligation first meeting.