January is often when people take a step back and look at their finances with fresh eyes. Once the festive period has passed, it becomes easier to focus on what really matters. Keeping income flowing, protecting family finances and ensuring plans stay on track if the unexpected happens. This is where protection insurance plays an important role.
Protection is not a one-size-fits-all solution, and the right mix of cover can change as your circumstances evolve. A review at the start of the year can help ensure everything remains aligned with your current needs.
Income Protection
Income protection is designed to provide a regular income if you’re unable to work due to illness or injury, helping to cover everyday living costs while you recover. It can be particularly important for those who are self-employed or whose employer’s sick pay is limited, as it helps maintain financial stability during uncertain times.
Critical Illness Cover
Critical illness cover pays out a lump sum if you’re diagnosed with a specified serious illness, which can be used to reduce financial pressure at a difficult time. This type of cover can help with mortgage payments, household bills or adapting to lifestyle changes, allowing you to focus on recovery rather than finances.
Life Insurance
Life insurance provides financial support to loved ones if you were to pass away, helping to protect dependents, repay debts or maintain household stability. It is often closely linked to mortgages and family responsibilities, and reviewing cover ensures it continues to reflect current commitments.
Business Protection
Business protection is designed to safeguard a business if a key person, owner or partner becomes seriously ill or dies, helping the business continue to operate and protect its value. For business owners, this cover can be essential for maintaining continuity and providing reassurance to employees, partners, and family members.
Reviewing protection as part of your wider plan
Protection policies vary in scope, definitions and exclusions, and they are not suitable for everyone. A January review does not necessarily mean making changes, but it can provide reassurance or highlight areas that may need adjusting as part of your wider financial planning.
If one of your goals this year is to feel more organised and financially resilient, reviewing your protection cover with us can help you feel supported in the lifestyle and security you are working towards. Simply hit reply to this email, and we can get started.
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