When the World Changes - So Should Your Insurance

Posted by Mortgage Squared on 30th October 2020 -

Life doesn’t stop, it has momentum and with this comes change. The world is changing every single day in a way that we couldn’t have foreseen. This is most likely going to affect your personal and financial circumstances along the way. It is always a good thing to take a look at all aspects of your finances and this includes reviewing your protection insurance. Reviewing this will allow you to see whether your policy provides adequate cover for your changing needs.

DON’T BE UNDER INSURED

Purchasing your protection and then leaving it to gather dust isn’t a smart move when it comes to protecting you and your family. We forget that life continuously changes and that by reviewing your insurance you will always be one step ahead of whether your insurance is enough cover.

READ  How Will Coronavirus Affect the Property Market in the UK?

Let’s imagine that you took out a life insurance policy covering you for a certain amount. Over the years your circumstances would have changed. You may have had children which then would result in your buying a bigger home. If your mortgage is larger then your monthly outgoings would increase. Your bills would increase and then you are left with a policy that doesn’t cover effectively. The pay out that your family would receive if you unfortunately died would no longer be sufficient to sustain their lifestyle.

LEAVING BETTER POLICIES ON THE TABLE 

Like all industries, the insurance industry has evolved over time. Newer policies can better cover you for your needs and you can purchase more extensive cover.

READ  Remortgaging Explained - your indepth guide.

If you have been a savvy payer over the years and simply paid your premiums with no questions asked then you will not only be facing the risk of under insuring yourself but you also won’t be benefiting from the newer comprehensive covers that are offered today.

LET US HELP YOU GET THE RIGHT INSURANCE

Here at Protection Squared we care about the cover that you have and whether it covers you correctly. We have experienced advisors that have ditched the jargon and have a more human approach to insurance. We understand the consequences of not having the right insurance in place should the worst happen. If you are in need to have a chat with one of our advisors, then give us a call on 08081 551 807 or take a look at our website www.protectionsquared.co.uk.