Baby Steps to Big Cover: How to Protect Your Family!
This article is written by The Review Business: our exclusive financial advisors in Derby. In this article, he discusses what family protection is, who should have family protection, why you should have it, and other ways you can protect your family.
🎩 “Welcome to the Wonderful World of Family Protection”
What on earth is Family Protection?
🏠 Family Protection is like an invisible, yet mighty, shield you carry to guard your loved ones from life’s not-so-pleasant surprises. Imagine you’re a superhero and this shield is your ultimate power. Your role is to keep your family safe and sound, even when you are not physically around or physically able due to a serious illness. This takes form in the real world as insurance policies like life insurance, critical illness cover, or income protection. It ensures your loved ones will be financially secure if you unexpectedly shuffle off this mortal coil or cannot provide for them due to illness or injury. Talk about peace of mind, eh?
Who Should Don this Incredibly Handy Shield?
🦸♀️🦸♂️ If you’ve got family depending on your earnings – a spouse, children, a pet iguana named Bruce, then congratulations, you qualify to be a Family Protection superhero! If your absence would leave a financial black hole, or if you just fancy the idea of your loved ones living comfortably no matter what, you should seriously consider strapping on this financial safeguard.
Why Don the Shield?
🔮 Picture this: it’s a sunny afternoon, and you’re enjoying a lovely cup of tea in your garden. Suddenly, the “what ifs” start popping into your head – “what if I become too sick to work?” or “what if I’m no longer around?” Chilling thoughts, indeed. But with Family Protection, you can sip your tea in tranquillity. You know that if something unfortunate happens, the financial future of your loved ones is sorted. No more worrying about them struggling with mortgages or bills or Bruce’s exotic insect diet. Your Family Protection shield has got it covered!
What Other Magical Artifacts Can I Use to Protect My Family?
🔑 Besides the superhero shield of Family Protection, there are a few more magical artifacts that you can use:
- Pension Pot: This is your magical cauldron that you regularly fill with a bit of your income. When the time is right (hello, retirement!), this pot will overflow with the means to live comfortably and maintain your lifestyle. It’s the gift that future-you will thank present-you for.
- Investments: Imagine you’re planting magic beans, and they grow into big beanstalks of financial security over time. That’s what investments are like. You put in a bit of money (the beans) into various things like stocks, bonds, or property, and over time, they grow in value. It’s a fantastic way to build wealth for your family.
- ISAs: Individual Savings Accounts, or ISAs, are like magic treasure chests. You can fill them with money (up to a certain amount each year), and the best part? All the money that grows inside is completely tax-free. That’s right – no tax on the interest, dividends, or capital gains!
In summary, Family Protection in the UK isn’t just a boring old insurance policy – it’s a superhero’s shield, protecting your loved ones from financial worries. Plus, when combined with the magic of pensions, investments, and ISAs, it’s an unbeatable way to ensure your family’s financial stability.
Contact The Review Business
If you enjoyed this article and would like more information about family protection or other financial matters, you can contact The Review Business via the methods below:
Website: https://www.thereviewbusiness.co.uk/
Email:
Phone: 01332 418 001
Office:
Established in October 2008 we have tried to move away from the traditional financial advice route. With our competitive charging structure and our stance on helping those who aren’t just large net-worth individuals. We have over £75,000,000 under management and have helped over 7,000 people with their pensions and investments. We are a small team of experts with over 60 years of combined experience in the financial sector.