Existing clients tel 0141 337 1346

Protect yourself today for a safer, secure tomorrow

27 March 2019 Written by Craig McCracken Category: Protection

The idea of walking across a tight rope suspended high above the ground would represent a profoundly daunting prospect to most of us, so imagine just how alarming this act might be had you to perform it with no harness or safety net to break your landing in the event of a fall. Human nature is driven by an instinct for protection and self-preservation from the vagaries that life can throw at us, and yet many of us somehow neglect this safety net principle when it comes to protecting ourselves, our loved ones and our way of life within our financial planning. 

The English churchman and historian Thomas Fuller once wrote that health is not valued till sickness comes and this aphorism succinctly captures our willingness to turn a blind eye to the prospect that illness or death might strike us down one day - just as the most confident and experienced of high-wire practitioners never envision  the day they too suffer a calamitous misstep. 

The actual figures are sobering. A Welfare Reform document by the Association of British Insurers suggests that around 250,000 people leave employment each year due to ill health - roughly 1% of the workforce - and around 60% of that number are the main householder earners. There are a very large number of middle income working age households that would see their household incomes fall substantially if the main breadwinner left work due to ill health.

A few short decades ago Income Protection was the bedrock of sensible financial planning, but within much modern investment orthodoxy protection can be seen as staid and and is typically overlooked apart from when a client takes out a mortgage. If you think that the state might provide that safety net for you then you might be gravely disappointed: the Centre of Economics & Social Inclusion found that there are 10.8 million middle income households in the UK that would be entitled to relatively little or no state support were the principal earner forced to cease work.

At Prosperity Financial Solutions we believe that providing protection for you, your family and your standard of living is an essential part of your financial strategy. One of our highly qualified and professional advisers will be happy to sit down with you and discuss how to make sure you always have a safety net in place to protect you from whatever height you fall. 

The purpose of this article is to provide technical and generic guidance and should not be interpreted as advice or a personal recommendation.

Contact Prosperity Financial's Income Protection Advisers Glasgow, Scotland

If you need advice or assistance concerning your frozen pension, or for anything else regarding pensions and other Financial matters, contact our expert team today. We aim to ensure that you are completely satisfied with our service, and will always offer additional advice and assistance. Call us now on 0141 337 1346 or complete our online enquiry form and a member of our team will get right back to you. We look forward to helping you plan your future.

 

Call 0141 337 1346 Existing clients tel 0141 337 1346

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