Have you ever stopped to think how you would survive financially if a serious accident, a medical condition or the onset of a disability stopped you from working and earning a salary? Come to that, what if you also have a family and partner who are normally dependent on your earnings? How could you possibly pay your bills and your mortgage?
This is the nightmare scenario which we all believe can happen to others but hopefully not to ourselves. Or could it? The reality is that if you found yourself in this situation, almost certainly you (and your family and dependents) would struggle very badly financially and life would become extremely difficult at an already stressful time. At this point nobody would blame you for wishing you’d taken out come sort of cover to protect yourself against such an unforeseen nightmare scenario. But sadly it would all be too late.
In this case study we describe how our client John found himself in this very situation, and how – thanks to previous professional advice from Logic Wealth Planning – he already had appropriate Income Protection and Critical Illness Cover in place which ensured that once his salary stopped being paid, he could still call on a regular tax free income to help him to stay afloat financially. Unfortunately his medical condition has remained severe, and he has not been able to return to work, yet over 20 years later he is still receiving a regular income. https://logic-wp.com/client-stories/protecting-income/
How we can help
We think this is a pretty stark reminder of why we believe protecting your income is so crucial. And just bear in mind that quite apart from helping you if ever you’re unable to work for serious health reasons, having this cover in place, even if you never need to use it, gives you fantastic peace of mind, helps you sleep at night and allows you to get on and enjoy your life. Want more details? Come and have a chat with us and we can help you understand your options. To arrange a free no-obligation meeting call us on 0808 123 4321.
Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire, and the surrounding area, but not limited to the region.