Monday, 13 February 2012

Loss of Child Benefits hides a more frightening truth.




The latest government spat over the reduction of child benefits for high earning families has created a massive amount of heat in the press, but whilst the argument highlights the need that many people have for that income, it masks the real story which is the worrying lack of planning that most families have in place for their finances.

Most people take good health for granted. But how would your family manage financially if you lost your income through accident or illness unexpectedly? A government source recently revealed that the average person in the UK has savings of only around £400 (BBC radio 4 12/1/2012). It's a sad fact of life that accidents, illness and death can happen to anyone, at any age. If the unexpected occurs, the last thing your family wants to worry about is money.

On average a family needs £455 each week to cover its costs meaning that most people would be in trouble very quickly if the worst happened yet very few ever address this possibility (source NFU mutual).

You can give yourself and your family financial peace of mind, with a range of protection plans but the choice can be bewildering and the cost can vary massively. The best way to cut through all the options is to seek a review with an Independent Financial Advisor who will help you get the right amount of cover for your needs, review your circumstances on a regular basis, and ensure that you and your family are protected if the worst happens. Call us today to book you review.