Posted by & filed under Critical Illness Cover, Financial Health, Health, Income Protection, Keyperson, Life Insurance, Protection, Protection - Insurance, Uncategorised.

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With major insurance policies (such as life insurance) normally being purchased over a considerable period of time (often 10 years +) it’s very likely that your circumstances are going to change over the duration of the policy. Because of this, it’s important to make sure your policy changes with you and represents your current situation… after all, if anything bad were to happen – you wouldn’t want to find out that your policy didn’t have adequate cover to protect you or your loved ones.

Here are a few “trigger” events when we believe you should speak to an Independent Financial Adviser to review your policy.

• Marriage, divorce or retirement
• Birth or adoption of a child or grandchild
• Significant changes in your health or that of your spouse/domestic partner
• Taking on the financial responsibility of an aging parent
• Purchasing a new home
• Refinancing your home
• Purchasing or investing in a business
• Career Change
• Significant pay increase / decrease
• A loved one who requires long-term care
• Coming into an inheritance

The key is to review your coverage regularly and ask yourself the questions “What has changed in my life since the last time I had an insurance review?” and “Does this cover represent my current situation?”

You may find down the line, your debt is significantly less, so you need less cover. Alternatively – you might earn significantly more than you used to and want your cover to represent your new rise in earnings. Your priorities might have changed or there may be better options on the table in terms of the type of cover available to you. All of these are triggers to book a review with your financial adviser. At the very least, it’s a good idea to book a review once a year.

Obviously as independent financial advisers ourselves, we recommend you come to us. Credius offers expert independent advice across a range of financial products and services. We could save you £££s and provide you and your family with peace of mind.

Contact us today on 020 7562 5858 to arrange your free consultation.

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