As well as saving for large purchases or events, it’s a good idea to set aside some money in case you find yourself out of a job, or unable to work.
The general rule is to have enough money saved up to be able to cover your essential outgoings for at least three months. This way you have access to an emergency fund which should keep you afloat in the short-term if anything goes wrong.
But it’s not always easy to save three month’s money, and savings can take time to build up and be used up very quickly. So while having some emergency money is a good idea, combining your savings with a form of protection insurance might be an option for you to consider.
Insurance means thinking about what’s important to you, for example, your family, your lifestyle and your home (rent or mortgage), and making sure they’re protected.
To work out whether you need protection and what type of protection you might need, your Bespoke adviser will look at the whole picture.
- What savings do you have?
- Do you have a mortgage or any debts you need to pay?
- Do you already have any insurance products, and if so what do they cover?
No two people are the same and the type of protection you need will depend on your personal circumstances and stage in life. Your age, marital status, health and whether or not you smoke, are just a few examples of the elements we will consider when assessing your circumstances.
Family protection doesn’t just mean life insurance. It can include critical illness cover, plans to cover mortgages and plans to cover loss of income due to illness or unemployment.
Talk to us about:
- Life & Critical Illness Cover – Level Term Assurance, Decreasing Term Assurance, Relevant Live Cover, Whole of Life Assurance
- Income Protection
- Accident Sickness Cover
- Unemployment Cover
- Home Insurance – Residential, Buy to Let, Landlord portfolio cover
- Commercial Insurance
- Key Man Cover
- Shareholder Protection
As independent advisers, we consider the entire market.