Throughout our lives we are all likely to need different financial products, whether that be to grow or maintain our resources and assets, or to manage our money properly and responsibly. We are pleased to be able to introduce our clients to local experts who are always on hand to help with tailored advice to individuals, families, trustees and businesses. In the latest of our blog posts, we pose the question: are you confident you have the right financial protection?
Whatever your plans for the future, whether for yourself or your family, careful financial planning can make a real difference to your life and those you care about, both today and in the future.
We all understand the importance of insuring items such as the family home, vehicles and valuable possessions, but are you confident you have adequate financial protection? If the answer is no then you could be taking unnecessary risks with your future financial wellbeing.
For example, have you considered how you and your family would maintain your lifestyle if you could no longer work?
We all strive to achieve a standard of living we feel comfortable with. What is less comforting is the thought that if the breadwinner of our family were to die or fall seriously ill that the standard of living, we had worked so hard for could all but disappear. While it can be unnerving, the importance of protection is best highlighted by considering the consequences of not having any cover in place.
One of the things that defines us most is our home. We work hard to repay a mortgage which allows us to raise our family in the right environment. However, if a major income stream was suddenly turned off because of a death or serious illness could you and your family afford to stay in the family home?
We also want our children to have the best start in life but if you were not there to provide for them could they continue to go to a fee-paying school or to university?
Providing a lump sum upon death, illness or disability, or an income if you were unable to work, is the best way of protecting your family’s standard of living should the worst happen. Life assurance, in one of its many forms, can provide the funds for this.
If you would like to take the next step, please contact the team at William Duncan + Co. While we cannot prevent the unexpected from happening, through our association with local trusted advisors, we can help to make sure you are prepared, by offering tailored solutions to your specific needs, helping you to provide financial security for you and your family.