Examples include: the death or disability of a family breadwinner, loss of income due to redundancy or long-term sickness.
It is therefore imperative to ask “what if” questions when formulating your financial plan so that provision can be made to cover unplanned or unexpected events. Before deciding on an appropriate risk management strategy the following points should be considered:
You can then decide which situations you could cope with financially without additional provision, which you could cover from your own resources and which you would need to arrange specialist insurance.
For example: an old second car may not need to be covered by fully comprehensive insurance, but it would be unwise to have a large mortgage if the loss of income meant it could not be serviced and would result in losing your home.
Medical & Dental Financial Planners can review your current provision to ensure you have adequate cover in the event of sickness/disability/death. We can also give advice on how to upgrade your insurance plans to ensure compatibility with earnings and family circumstances.
We offer products from the whole market for life cover, income protection, critical illness, mortgage protection, family income benefit, locum & practice expenses and buildings & contents insurance.