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Life can be unpredictable, and while we hope for smooth sailing, unexpected events such as illness or changes in family circumstances can arise.
These are the ‘what ifs’ we all think about from time to time but often push to the back of our minds. It’s natural - dwelling on the worst-case scenarios can feel uncomfortable, especially when you’ve worked so hard to build a life you love.
Protection planning isn’t about focusing on the negatives. It’s about giving yourself and your loved ones the tools to handle uncertainty with confidence, so you can continue focusing on the life you’re building.
What if I fall ill and can’t work?
If a serious illness or injury meant you couldn’t work for a period, how would you maintain your lifestyle and financial commitments?
Income protection can provide regular payments if you’re unable to work due to illness or injury, helping you continue maintaining your lifestyle.
Critical illness cover is another tool that can pay out a lump sum if you’re diagnosed with a serious condition covered by the policy, giving you financial breathing space to adjust and make lifestyle changes without immediate financial pressure.
What if something happens to me?
If you have a family, a business or people who rely on you, it’s worth considering how they would manage financially if you were no longer around.
Life cover can help provide financial support to your loved ones, helping them pay off any debts such as a mortgage, cover everyday living costs or fund future family plans.
Business protection can also be considered if you’re a business owner, helping your business continue to operate or supporting your family to navigate the financial side of business transition in your absence.
What if I need long-term care in the future?
It’s not something most of us want to think about but many people will require some form of care later in life, which can bring significant costs. Through cash flow planning and long-term care planning, we can help you explore how to build care funding into your financial plan, using a combination of your assets, potential care plans and other financial products to aim to preserve your lifestyle and protect your loved ones from financial strain.
What if my circumstances change?
Divorce, changes in family structures or business transitions can all bring financial uncertainty. Regularly reviewing your protection plans can help adapt your cover to align with your changing circumstances. We can help you assess your current protection, adjust beneficiaries and identify any gaps so your plans continue to reflect your priorities.
Closing Thoughts
Protection planning isn’t about pessimism. It’s about resilience. It’s about helping you continue working towards your goals, even if life takes an unexpected turn. It’s about looking after the people who matter to you, while maintaining the confidence to keep moving forward.
At Two10 Investment Services, we aim to help clients align their protection plans with the wider financial strategies they’re putting in place, so everything works together towards their long-term goals. If you would like to discuss how protection planning could support your wider financial plans, we’re here to help get the conversation started.
*Risk warning: Investments can fall as well as rise, and you may not get back the original capital invested.
*These posts are for information only and should not be seen as advice or recommendation to take action. Please seek independent financial advice before taking any action.
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