How well are you prepared should trouble strike?

on Wednesday, 01 October 2014. Posted in N21 Experts


Remember the Allied Dunbar TV campaign shown around ten years ago "There may be trouble ahead?" The campaign used a series of family situations where people have to re-plan their lives because something unexpected happens. "Let's face the music and dance"


A decade later, it appears that far too many people are still not protecting their incomes and standard of living, should the unexpected happen. A recent study by Legal & General has found that millions of families have no safety net, should one or even both parents be unable to work, through accident or illness. Should tragedy strike, only a fifth of UK households are covered by life insurance which would pay out a lump sum on the death of a parent and again only a minority of people benefit from critical illness cover, this is despite the fact that each year 318,000 people are diagnosed with cancer, 103,000 suffer heart attacks and 150,000 are the victims of a stroke.


The survey found that these are topics that couples don't live to discuss and if they do, they are uncertain as to how to select a right level of protection at a price they can afford. We have found when talking to clients that many people are still under the misapprehension that the state will provide. Many people on relatively modest incomes will not receive sufficient support to live on.


So if alarm bells are starting to ring. Where do you start?

There a large range of policies on the market, ranging from basic to comprehensive plans, which offer different levels of protection depending on your available income. That is where we come in. Independent experts in providing a wide range of protection policies, we work with leading insurance providers such as Legal & General, Prudential and Aegon to ensure you receive the best cover for your needs.


Whether you chose to talk to us or another independent financial advisor, the key question to ascertain is what will be the best Personal Income Protection policy to provide an income for your family, to enable you to continue to repay your mortgage, provide a tax-free lump sum and plan for your long term care. A specialist advisor will also be able to help you to navigate your way through the benefits systems to help you to claim anything you are entitled to.


Many policies are available for you to buy directly online, but we would always recommend that youseek advice and talk to independent advisors before making any long-term financial commitments.


You and your loved ones' futures depend on it.



Lloyd Kafton

Cedar House Financial Services

Remember the old TV  campaign "There maybe trouble ahead?"

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