At the start of a new year, it’s a great time to make sure your finances are in order. A key consideration for your 2023 financial checklist is protection.
Safety net
Protection insurance is an essential part of long-term financial planning. The right protection for your unique needs can serve as a crucial safety net against any unexpected downturn in your financial situation.
In 2023, as soaring prices and bills are When assessing your finances, it is important to think twice. Ask yourself if the level and type of cover you have is still suitable for your current needs. If your circumstances have changed, it is possible that you might need to update your cover too. making things more challenging for many, it is more important than ever to consider the role protection plays in your financial plan. Knowing you are covered against the most unpredictable events provides certainty in the most challenging times.
Don’t act in haste.
If you cancel your protection now and subsequently take out a new policy in the future, it will likely end up costing you more when you resume payments. And that’s not to mention the fact that you and your loved ones will be left without essential cover in the meantime.
When assessing your finances, it is important to think twice. Ask yourself if the level and type of cover you have is still suitable for your current needs. If your circumstances have changed, it is possible that you might need to update your cover too.
Get in touch
Cancelling protection can undermine a carefully constructed financial plan. If you are thinking about changing your protection in the new year, don’t act in haste. Contact us today to see how we can help.
🚨 Data accurate as of the date of publication – 30.03.2023
🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.
Source: Quilter Financial Planning – Essentially Mortgages Q1 2023
