The cost of living crisis is sadly well established in the minds and pockets of many – and so many of us have to make financial sacrifices to make ends meet. Most of us have been looking at ways that we can reduce our outgoings; switching off the electricals, reducing temperatures on the heating systems, going through all the monthly cost items then “slashing and burning” all the non-essential expenditure. As part of that process, you may be considering cancelling your protections policies, such as your life insurance or critical illness policy. THINK TWICE BEFORE DOING SO. Buying a policy such as life insurance later when times get better, could cost you much more than it does now, as, generally speaking, policy prices increase the older we get and if you have had a serious illness in the meantime, you may not be able to get a protections policy at all or that illness you suffered may be excluded from your policy altogether. Think of it this way, times are hard now but imagine if you or a loved one passed away unexpectedly and there was no life insurance policy in place. Imagine if you or a loved one cancelled your critical illness policy and suffered a serious debilitating event. How much harder would life be then? So, explore ALL your options before making such a serious final decision. There are ways that you can reduce your premiums on your current protection policies, or you could change your policy to get a lower premium but still have a policy in place.
We are currently running a FREE Protections Challenge to see if we can beat your current Protections premium. If we can, you save money, if we cannot, then you have not lost anything.
So please come and challenge us to see if we can save you money and get you a lower premium.
We look forward to the challenge to help save you money.
Saan Popat
Penn Financial
saan.popat@pennfinancial.co.uk
077 8026 8027
The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.