subject: Protection Insurance is Key to Sound Financial Planning [print this page] Protection Insurance is Key to Sound Financial Planning
When financial experts speak it always makes sense to listen, so with 94% of independent financial advisers according to a survey conducted by Scottish Provident believing that having protection policies in place is "essential" for borrowers to have as part of their overall financial planning, there should be no excuse for not following their advice.
Which Protection Polices Do I Need?
There is a range of protection policies on the market, but knowing which policy to take out is difficult, which is why experts such as independentwhole of market mortgage brokers offer free face to face consultations to discuss individual needs and options.
In the Scottish Provident survey,life assurance was listed by 48% of those questioned as the most essential protection policy and recommended as the one to take out above all others. However, knowing and understanding what is most important for you is the job of your financial adviser. With a maximum of only one in five people currently taking out protection policies, now is perhaps the best time to put this right and take notice of the warnings.
Mortgage protection policy advice and guidance is available from your local mortgage broker. Whether it's life assurance that protects your loved ones financially should anything happen to you; protection policies such as redundancy insurance or sickness and accident cover that will ensure you continue to meet your mortgage payments if your income suddenly stops; or health insurance that gets you looked after and back on track more quickly; take advice without delay.
Listen to the overwhelming majority of those in the finance business and take notice of their warnings before it is too late.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.
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