Quite often we get to mid-January when the credit card statement comes in and we start to feel a lot less jolly than we did a few weeks prior!
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When we start fretting about money it is usually because we feel out of control. For example, if we spend more at Christmas but have a plan in place throughout the year to deal with that, we feel less anxious than those who have a wild blowout with no idea how to pay for it.
As our name says, by using Foresight you can proactively plan for a situation rather than merely reacting to one. This doesn’t stop the proverbial hitting the fan from time to time but it does allow you more peace of mind knowing that you have more control over choices, which in turn enables you to move forward.
Thinking about the ongoing affordability of your insurance premiums is an important part of your financial planning, and this is especially true for life cover. Most of us have life cover in place to cover mortgage debt or for protecting dependents, and life cover is relatively cheap allowing you to afford substantial amounts without breaking the bank. However, when we get into our 60’s and beyond, the premium increases start becoming more significant, causing many people to cancel their cover when they are most likely to need it.
We are encouraging our clients to think about levelling their insurance premiums for a portion of their life cover. This gives you peace of mind knowing exactly what your future premiums will be, which in turn gives you the certainty that you can maintain cover for ‘final expenses’. This would also avoid people needing to purchase expensive funeral plans in their retirement.
If you would like to know more about the options for long term affordable cover then please give us a call. We are always happy to have a chat and a coffee.
In the meantime, we wish you happy holidays and safe travels. See you next year!