Life is full of twists and turns, some of them good, others not so good. Protection policies are one of the best ways of ensuring your family is provided for financially, if unexpected and unwelcome events should happen. Policies can pay out lump-sums or provide an income to ease the financial burden at a difficult time.
It seems that the message that it’s important to have the right type of protection policy in place is being listened to. Recent data from financial software company IRESS, shows a positive trend in the sale of protection products in the first six months of 2018. Life term insurance and Income Protection saw the largest year on year increase in new business, up 35.1% in the first half of 2018 compared with the first half of 2017(6).
Insurers believe that this rise is due, in part, to greater health consciousness and a better understanding of the part that protection policies can play in keeping a roof over a family’s head and ensuring that household bills can still be paid if death or illness were to strike.
If you’d like advice on choosing the right insurance cover, do get in touch ADVICE@HODGEBAKSHIWEALTH.COM