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As the saying goes, " Do as you’ve always done and you’ll get what you’ve always got"!
This can apply to many topics whether it’s losing weight, planning your time, doing your shopping etc. etc.
How many times in the past have people thought about going through their finances with a fine tooth comb to make sure they have the best value but they never quite get around to it? I’ve yet to have a group talk where someone doesn’t come back within a few days realising that they have been paying for something that they should no longer be paying for!
More than ever, people are seeking to be sure that they are getting value for money and have the most appropriate plans in place for their families.
At the very least, everyone should know the following:
How much life cover they both do and should have.
How much specified illness cover they do and shouldhave.
How much are they paying for what they have.
If a couple, is cover dual or joint.
Is illness cover accelerated or stand alone.
Do they have income protection.
After what period will it pay out.
What provision (if any) do they have for retirement.
What rate of interest they are getting on savings.
If co-habiting, what is the tax implication in the event of a fatality.
What level of buildings insurance you should and do have.These are all very important things to know but they don’t always seem too important until it’s too late.
So, you can make a decision to know what’s best for you and your family or wait until December and say "I must look at that after Christmas"!
If you have an independent financial advisor (not your bank!) I would urge you to make an appointment to discuss these important areas. If not, feel free to PM me in complete confidentiality to discuss further. As always, there is no obligation but people usually find it very beneficial.
Happy New Year to everyone and good health!
Dave.
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