09.02.2023

How to place value on Protection Plans in tough times

How to place value on Protection Plans in tough…

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  • It’s inevitable that during the current cost of living crisis, people will be keeping a watchful eye on their budgets, making savings where they can, so they can still afford the things that are important to them.
  • Experts have warned people against cancelling insurance policies to save money during the cost of living crisis, saying it could make their situations “a million times worse” in the long run.
  • It is better to find out from providers where costs can be reduced in current policies “without getting rid of all of your coverage completely. Something is always better than nothing”.
  • While the need for protection is as great as ever, you may be put off at least in the short term by the thought of paying for something you may not use for many years, if ever. If you have protection in place, taking a closer look at your monthly direct debits to see if there are any outgoings you can cut back on.
  • I think the first thing is to remind yourself exactly how the policy will help you if you need to make a claim. Often a plan will have been taken out to protect your home, your family, or your lifestyle, and I doubt that this need will have changed at all.
  • protect what matters
  • Life Assurance
  • Long term planning
  • Insurance

I am an Independent Financial and Mortgage Adviser and have worked in Financial Services for over 12 years. During my career I gained experience in assisting both individual and corporate clients.…

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