15 September, 2009
The Credit Crunch has made more and more people think about acting financially responsibly. People are being encouraged to check their bank statements and to cancel unnecessary items.
I have recently seen a number of articles which have encouraged saving as a way of protecting the family instead of taking out life insurance.
The thought of saving money for a rainy day is not new and should be encouraged but it is not a credible alternative to taking out life assurance.
Currently Life Assurance is about as inexpensive as it has ever been. Savings need to be made for a rainy day and with Protection in place these hard-earned savings will be protected if things go wrong.
The argument that savings can replace life cover as a method of protecting the family could lead to families been drastically under insured. A 35 year old female non-smoker could get £100,000 Level Term Assurance over 25 years for around £7 per month.At £7 per month it would take her over 1190 years to save £100k.
For more information please contact the financial services department on 01772 220022 or contact Peter Toner by email.