With advances in medical science, larger numbers of people are surviving a critical illness. Whilst this is good news, people are then living with serious health conditions that limit their ability to live a normal life.

Unfortunately, the majority of people don’t have any protection in place to help them financially in the event of ill health, serious illness or death. Amongst UK families with dependent children, 76% of parents have no plan for dealing with lost income due to ill health, while 68% have no plan for dealing with their own death or that of their partner.¹

Misguided beliefs that protection insurance is unaffordable, that it doesn’t pay out when you need it, and that it won’t happen to me, all play a part in the lack of financial protection amongst UK families. It is fact that all valid claims are paid, giving great benefit to those who make it part of their overall financial plan.

Most people understand the importance of insuring items such as the family home, vehicles and valuable possessions, but not everyone has adequate financial protection to help secure wider aspects of their future. Some important questions to consider are:

• How you and your family would maintain your lifestyle if you could no longer work, through ill health or serious illness
• How you would pay for your rehabilitation
• Would you want to cease saving and start drawing down on your savings & other assets if you couldn’t work?
• How your family would cope in the event of your early death

If these issues concern you, then they are obviously best addressed before such an event occurs to ensure that you, your assets, and the people who matter to you, are suitably protected.

To receive a complimentary guide to wealth management, retirement planning or Inheritance Tax planning contact Keith Brace of Brace Wealth Management on 01327 844433 or email keith.brace@sjpp.co.uk. www.bracewealth.co.uk

Keith Brace MIFS DipFA CertPFS
Principle of Brace Wealth Management

¹ Aviva Protecting our Families Report (March 2017)