For many people, their first consideration might be life cover which may be a priority when you buy your first home, get married or have children. Life cover can help your dependents cope if you are no longer around; to help them with mortgage payments, childcare costs, or even the costs of arranging a funeral.
Whilst life cover is an important piece of protection for you and your family, it is equally important to consider how you would cover your regular expenses if you were unable to work.
No-one likes to think about it, but the likelihood of being seriously ill or unable to work is much higher than the chance of passing away unexpectedly.
Income Protection policies are designed to pay a regular income for as long as you are unable to work and Critical Illness Cover may be able to support you by providing a lump sum if you are diagnosed with a life changing illness.
According to the Association of British Insurers, of the 26.6 million households in the UK in 2017, 19.6 million had contents insurance and 20.1 million had motor insurance, but only 5.3 million households had whole-of-life insurance and a mere 0.3 million had income protection.
Your needs will be unique, and there are thousands of protection products available in the UK, so searching online for the cheapest premium does not always deliver the best outcome. Phare Financial Services has experts on hand to help you find the most appropriate cover for your lifestyle and family. This can involve looking at a variety of options, including:
- Mortgage Protection
- Medical Insurance
- Critical Illness Cover
- Family Income Benefit
- Income Protection
- Business Protection
- Long Term Care Insurance
- Lasting Power of Attorney for your personal and business affairs
If you need help with your Plan B, then please call 020 3701 2222 or email clientservices@pharefs.com with your enquiry.