Back in January, I appeared in an FT Advisor article about the lack income protection with a quote:
“It’s true that confidence is low regarding protection. A minimum level of protection would be useful and a drive by insurers to dispel some myths regarding what they will pay out on would also improve confidence in protection products.”
Six months later, the situation is much the same. Mortgage Strategy recently published an article which says that nearly 60% of mortgaged homes do not have any protection insurance whatsoever.
The article goes on to note that even those which have some protection are mostly only covered for death or critical illness. Income protection (in case of the loss of a job) is even scarcer.
It is a good time to consider your mortgage, your savings, and your insurance. If you need help, give us a call. We are independent financial advisers – we are here to help you find the best protection for the biggest investment you’re likely to make.