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A necessary protection review

A necessary protection review

key-stages-imgNow is the time to review your protection requirements in the light of inflation and changes in your personal circumstances over the year.

Most life insurance cover is not inflation linked. More important, however, is that the risk of a serious illness or death increases with age. There is a 1 in 50 chance of any 40 year old dying within the next ten years but by the time we reach 50 the risk increases to 1 in 25. Compare these with the odds of 1 in 26,000 for winning even £25 with Premium Bonds.

Is your current life assurance cover enough to repay the mortgage and any other debts in the event of your death? Will it also provide your wife or husband or civil partner with sufficient additional capital to replace your lost income for the next few years – or longer if you have dependent children? Are you making plans for the future, perhaps for your children and would these plans be likely to fail if you died prematurely or were seriously ill and not able to work? It is worth treating this review with the seriousness your family deserves.

Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up and you may not get back the full amount you invested.

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