Are you adequately protected?…
January 18th, 2012 in Insurance - Critical Illness, Insurance - Income Prot., Insurance - Key Person, Insurance - ProtectionAre you adequately protected?…
Apparantly most of you aren’t!!!….
Aviva have recently released their ’2011 Family Finances Report’, and one aspect caused me particular concern and therefore I felt compelled to highlight it.
They say that of the 2000 people surveyed 95% said they didn’t feel they were completely protected, and 49% feel unprotected or completely unprotected, and even the 22% that felt they had some security only feel ‘protected if nothing unexpected happens’….. Seriously?!?!?! Surely the purpose of protection is to protect against the unexpected! That last statement spelt out the gravity of the problem in my opinion!
In light of the fact that I read an article in the press suggesting that the price of term assurance premiums had fallen by approximately 50% over the last decade, I am surprised that so many people are under insured, or even not insured at all!
On a completely separate note, and nothing to do with the Aviva Report, another interesting statistic I read in the press was that as a general rule, employers in the UK were more likely to insure their photocopier than they were their own staff!
I cannot tell you how strongly I feel that protection, or the lack thereof is something that needs to be addressed and quickly! The impact of not being protected can be absolutely catastrophic, and if people think the recession was difficult, I cant imagine what adverse effect the death of a primary breadwinner would have for example! Sorry to be so morbid but I would rather people felt a reaction to this article and do something about it than tread around on eggshells and people not do anything.
If you feel you are one of those that isn’t adequately protected, whether life, critical, mortgage, income protection or key person, or just want a review of your protection arrangements, then please email us or give us a call. We can look at a whole range of protection solutions for clients, and it really doesn’t have to cost the earth!
