I’ve recently reviewed my own insurance needs and looked at the four major insurance and protection policies out there.
Now I know for a fact;
And if I could guarantee those things, I wouldn’t bother with insurance at all.
Unfortunately, I reckon at least one of these is going to happen. And when it does, I guess it would be nice to think I don’t have to stress out about money as well as whatever other crap I’m dealing with at the time.
Your level of cover for insurance and protection is a deeply personal decision. For some people, no insurance is a pretty sensible policy.
If you’re without dependants, or you’ve got lots of cover with your job, maybe you’re an invincible mutant, maybe you don’t have any need for the benefit it provides, or maybe you just can’t afford it right now. All good reasons to not be covered.
But if you do have anyone else reliant on you to provide an income each month, or if you have people that would suffer if you were no longer around to provide for them, or even if you’d struggle to look after yourself if you stopped having a regular income, then you really should carefully review your circumstances and decide if you do need any insurance or protection.
The cost thing, yeah OK some of them aren’t cheap. And getting every single policy you want might not be feasible. But it’s important to review your situation and prioritise what you want and how much you can afford to pay for it.
Maybe you choose just your top priority insurance area. Or maybe you get all of them, but at a lower level of payout than you’d ideally like. We can search by cost per month of premiums instead of level of cover provided if that makes it easier.
Take some time to think about it is all I’m asking. You may be like me, and not all of the cover is necessary. Or you may need all of them. Just have a slightly depressing chat with any partners or dependants and cover off what would happen in the awful event of something bad happening to one of you.
Then have a glass of wine and a cuddle so you can cheer yourselves up afterwards. I’d rather you had a sucky chat now than needing some of these policies in the future and not having them in place because you didn’t want to talk about it.
Have fun, and get in touch if you want to talk more about any of them in more detail.
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