Protecting Your Family is a Priority
For many people, making appropriate provision for your family in the event of your early death or serious illness is an absolute priority.
Should you require any assistance in identifying the right type of cover, or wish for us to source some quotes to see whether your existing cover is still competitive, please do get in touch.
The A&J Knowledge Centre
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Our financial advisers at A&J Wealth Management are independent experts in all aspects of corporate and personal finance services including the following areas.
The aim of a life assurance policy is to pay out a lump sum benefit in the event of an individual’s death, or on the diagnosis of a critical illness, to a nominee or to their estate in order to protect a financial dependent’s lifestyle or enhance and individual’s financial well-being.
Products have been customised over the years to meet different financial objectives such as the repayment of a large liability such as a mortgage or a substantial inheritance bill.
With each type of policy you are able to select the level of cover, who the lives assured will be, how long it will run, as well as numerous other features.
Why is Financial Protection Important?
People could be putting their financial security at risk by not considering how they’d cope if income stopped or their situation changed.
When planning, it’s normal for ‘what-if scenarios’ to pop up. What would happen if you were to become too ill to work? Could your loved ones cope financially without your income?
The right financial protection can give you peace of mind. You know that you have something to fall back on if necessary. Taking out an appropriate policy can keep you on track financially even when things go off course. It’s a step that can ease fears and let you focus on what’s important to you.
Even the best-laid plans can go off course. When something unexpected happens, it can leave you financially vulnerable. Whilst it’s always a good idea to have an emergency fund and other provisions, financial protection acts as a safety net too.
If losing your income for an extended period of time means you’d struggle to keep up financially, protection can be the cash injection you need. Hopefully, it’ll mean you don’t have to worry about paying for the essentials, such as your mortgage or rent, at a difficult time.
If you’re unable to work due to illness, it can be tempting to go back as soon as possible for financial reasons. But it could harm your recovery. Income protection or critical illness cover can give you some breathing space. It means you’re able to get back on your feet first and figure out if adjustments need to be made.
If you access financial protection, it may be the case that an accident or illness will have a long-term impact. Having a policy to fall back on means you don’t have to rush into making a decision.
What are you most concerned about should something happen? For some, it’ll be keeping up with mortgage payments if you were unable to work. For others, a key worry will be what would happen to their family without them. Financial protection can provide confidence that what is important to you will be protected.
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A&J Wealth Management Ltd
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