If you have retired and think the days of reviewing your financial plans are over, think again. Now is the time to review your entire plan in-line with your new lifestyle and pay particular attention to any insurance cover in place.
According to a 2018 survey by research firm East & Partners for Scottish Pacific, nearly 80 per cent of small and medium enterprises (SMEs) said cash flow issues caused them the most sleepless nights,1 whilst a 2019 survey by the same group highlighted that the number of SMEs planning to borrow from their bank to fund business growth has halved in the past five years to 18.3 per cent2. If small businesses are struggling with cash flow, but not willing to borrow from their bank what strategies are they considering to improve cash flow, grow their business and ensure longevity of their livelihood?
Changes to income protection insurance
Don’t let an illness stop you from looking after your finances.
• Insurance advice can help you to put a plan in place that protects you and your family at the worst time – when you have suffered an accident, illness, or premature death. If you would like to discuss your insurance plan, get in touch. • This video was filmed using an actor, but the client story is REAL. It highlights how important it is to have a sound insurance plan in place, and I can help you with that. • If you’re like me, and you like to be shown, rather than told, then here is a short video that really demonstrates the value a professional financial adviser can make when it comes to setting up your insurance plan.
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According to research by TAL insurance provider the cost of personal insurance soars after the age of 35. This is also the time in our lives that you may be going through significant change such as marriage, children, a bigger mortgage and more responsibilities.
Here’s why you need income protection Your ability to earn an income is usually one of your biggest assets, so why not protect it? A sudden illness or injury can keep you from working and leave you in financial difficulty. You may get help from a worker’s compensation payout or…