Choice & Consequence

No one likes to think that something bad will happen to them, but each year one million workers suddenly find themselves unable to work due to serious illness or injury*.

Financial Protection is designed to provide a cushion against the financial impact of unexpected and costly events such as serious illness, unemployment, accidents, and death. Despite this, there is a gap between the number of people who experience unexpected events and those who have a contingency in place to safeguard their finances.

Only a limited number of UK adults have a protection insurance safety net – such as income protection – with just one in five (17%) adults considering it a necessity – despite the same amount (18 per cent) knowing someone whose standard of life was severely impacted due to not having protection in place.

Top reasons for not taking income protection insurance include:

• Can’t afford it – 28%
• Not considered it – 17%
• I have no one dependent on me – 11%
• I would rather have the spare cash now – 10%
• I don’t think I’ll lose my job – 10%

Don’t get left out in the cold this winter. To find out more, download our Guide to Protection.

Of course, there’s no substitute for taking professional advice. If you wish to take a step in the right direction with planning your finances, please feel to call us on 01626 833225 or email us at [email protected] to find out more or to arrange an initial complimentary meeting.

We can also offer telephone based support as well as face to face meetings.

Sources
Research conducted by Opinium for The Money Advice Service in June 2015 amongst 2,000 UK adults. 80% of the sample were in work. 
*CESI research for the ABI: ‘Welfare Reform for the 21st Century’.

Important Information
Please note that the above article does not constitute financial advice. The views and opinions contained herein are those of Loughtons Independent Financial Advisers and may not necessarily represent views expressed or reflected in other economic communications, strategies or funds.

This document is intended to be for information purposes only and it is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Loughtons Independent Financial Advisers does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. This does not exclude or restrict any duty or liability that Loughtons Independent Financial Advisers has to its customers under the Financial Services and Markets Act 2000 (as amended from time to time) or any other regulatory system.

Loughtons Independent Financial Advisers is a trading name of JPRS (South West) Limited. JPRS (South West) Limited is authorised and regulated by the Financial Conduct Authority.