Many people think of wealth as the value of their savings, investments and assets. However, the ability to keep earning an income is equally important.
Ensuring that you have adequate financial protection for you, your family and any dependants is an important element of financial planning. As a healthy working person with a good income, you may feel reasonably confident that you are able to provide for your family. However, your finances could be more precarious than you think.
But what do you do if you split up with your partner?
Life insurance can give you the precious peace of mind of knowing that any dependents will be financially secure in the event of your death. But if you are in a couple or partnership, should you opt for a ‘single’ or ‘joint’ policy?
If you are in a relationship it might seem obvious to take out a joint policy, but this is not necessarily the best option. See below for the pros and cons of single and joint policies.
7 Common misconceptions you may have around Income Protection
It’s a frequent misunderstanding that employers don’t think Income Protection is important. They do, they just don’t know enough about it, it is the one protection policy every working adult in the UK should consider.