Why It’s Necessary to Protect Your Income and Lifestyle

Author: Anita Hennington

Why it’s necessary to protect your income and lifestyle.

Protecting income against the effects of sickness, illness and accident is the cornerstone for sound financial planning. Yet many people struggle to appreciate the need and simply believe it'll never happen to them.

With the downturn in the economy, you may have heard how many homeowners are suffering financially. For example, the Council of Mortgage Lenders expect around 45,000 homes to be repossessed this year, compared to about 26,000 last year and just 8,000 five years ago.

It’s a concerning time, but there are simple steps that you can take to help safeguard your home during these difficult times. For example, you can help protect yourself from the financial consequences of being unable to work.

Do you need protection?

Imagine for a moment that you have to stop work because you were sick or unemployed.

· How much would you need to pay for your mortgage and the cost of living each month?

· How long could you live on your savings?

· What would happen when your savings ran out?

Being out of work is stressful enough and, if it happens, it is important to be able to concentrate on getting well or finding another job.

The good news is that help is available to protect yourself against the financial consequences of being out of work due to illness or redundancy. And it’s probably quicker, simpler and more affordable than you expect.

The protection market is constantly evolving, and at St Andrews Financial Planning we are always researching new products which could provide you with superior cover. We can also offer you products you cannot get direct from insurers as a customer.

Call now to help safeguard your financial future

It’s easy to put off getting protection. But the reality is that by doing so, you could be gambling with your home and lifestyle if something unexpected happens. The right protection can provide you with peace of mind that you can cope financially, no matter what life throws at you.

We will only recommend cover that is right for you and of course we are also happy to discuss any other financial concerns you may have.

So, please give us a call on 01603 632257 to arrange a financial review at a time that’s convenient for you. Alternatively, view our site at http://www.standrewsfp.com or visit our blog athttp://standrewsfinancialplanning.wordpress.com

About the Author:

Anita Hennington is the Managing Director of St Andrews Financial Planning Ltd in Norwich an independently owned company, providing financial advice in personal and business planning.

Article Source: http://www.articlesbase.com/insurance-articles/why-its-necessary-to-protect-your-income-and-lifestyle-672290.html

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