Although it isn’t pleasant to think about, there is no getting away from the fact that many people have dependents that would be in an incredibly precarious position should their income be lost due to death or injury.
Your family may not want to have to worry about money when dealing with a traumatic event relating to your health, but practically this isn’t realistic; there will be bills that need to be paid, and without the proper preparation this can add more stress to an already difficult situation.
At AB Vision, we will use our expertise and knowledge to provide financial advice and products that will make sure your family remains financially stable in the unfortunate event that your income is lost, allowing them one less thing to worry about as they deal with the traumatic situation.
Remember, although you might feel confident in your health and your ability to provide for your family, your health can change, and accidents happen. Any responsible financial adviser will make sure you not only grow your financial portfolio and wealth, but also protect it with insurance.
What Insurance Options Are There?
The first thing to note is that our commitment to tailoring our advice for your individual needs and requirements ensures that we have a solution for everyone regardless of your situation, budget, or age.
The specifics of insurance policies vary significantly, but there are a few main relevant types:
Life Insurance: Should you die, life insurance will help to ensure that your family can stay in their home while providing a financial cushion that will help to make the difficult period a little more manageable. The sizeable payouts involved will even help them in their later lives.
Income Protection: Occasionally called Permanent Health Insurance (PHI), this policy will make sure you and/or your family receives a monthly replacement sum in the event your wage is lost due to injury, illness, or death. Although policies typically pay out 50-70% of your current income, this is tax-free.
Critical Illness Insurance: Policies can be taken out to insure against various serious illnesses such as heart attacks and strokes, various cancers, and many other health issues. In this event, a lump sum is paid which can be used to cover your financial commitments while you are unable to work.
What’s the Next Step?
Any number of unfortunate events can put you and your family in a precarious position regardless of the income or wealth that you have amassed. However, with responsible and knowledgeable help from AB Vision, you can make sure your family is insured against disaster.
The insurance types and products available are complex, and without working in the industry, it can be tough to negotiate the best possible deal. However, our friendly advisers will respond to your individual needs and situation and make sure you get cover that is right for you and your family.
The process of protecting your family and dependents begins with a simple phone call with our friendly and knowledgeable advisers. Give us a call now on 01292 263 001.
Alternatively, fill in our contact form, and we’ll get in touch as soon as possible.