Article by Stuart Barrett
If you recall from last month’s article from my colleague, Adam Barnhill, he mentioned about reviewing protection plans and future needs. Well, as an adviser it always features in my thinking when I am speaking to my clients. I guess I am reaching that stage in life when you start to experience in your own social group one of life’s certainties, that you don’t live forever. The challenge of course is that we just don’t know when or how it will end!
This is not meant to be morbid, although it does not help that I am writing this article on a grey, gloomy, and cold day!
Life companies have in recent years really moved forward in innovative ways to provide greater scope to cover a wide range of scenarios. The Life Company being able to assess risk through more accurate information on life expectancy and overall risk than ever before, coupled with the use of technology that reduces the admin burden of running the plans has significantly aided the development of protection plans. This means to the policyholder a reduced cost of purchasing protection when compared to in the past. Many life companies now provide Support Services for their policyholders, for an example, a leading life company now employs a team of qualified nurses and counsellors that can help clients or introduce them to other, related, agencies that cover areas such as: –
Daily living: Consumer rights; debt and money management.
Life events: Marriage and cohabitation, separation and divorce, moving home, bereavement and loss.
Personal: Emotional well-being, managing stress, anxiety and depression, disability and illness, personal development and computerised cognitive behavioural therapy.
Work: Work/life balance, workplace pressure, bullying and harassment.
So, you might be thinking, “This doesn’t apply to me. I am at a stage in life where protection isn’t important.” What you might not realise is that protection has a part to play across all stages of life. Whether you are in the throes of starting on the property ladder or looking at using it in Inheritance Tax planning, Protection is important. If you are in business, then being either self-employed or employing others, Protection is something that needs to be considered.
Reviews of what you have and identifying what exposure you carry to your overall wealth and protection of loved ones is pertinent to everyone.
Finally, did you know that the average person spends 24 hours a year brushing their teeth? Whereas the average time with an adviser from Prosperity is under 3 hours…
We at Prosperity are making an offer to our clients – between now and the end of May.
Our standard offer is to undertake an Initial meeting without cost – that stands! During this period we will waive the minimum fees that we would normally charge. In addition remember our introductory / referral reward of £50.00 in M&S vouchers as a “thank you” for introducing us to someone you know.
So let’s talk.