Your adviser will discuss your personal requirements and provide you with analysis of how much protection cover you and your family need. This will be dependent on your existing cover, debts, dependants and future plans. Of course, sometimes how much cover you need and how much cover you want can be quite different to what is affordable and therefore we can help create a compromise between the two that can be tailored to you. It is important to remember that often some cover is better than no cover at all.
There are lots of different types of policies in the marketplace such as those covering death or illness and variations of the two. Being independent, your adviser will research the policies in the market that best suit your needs and make the appropriate recommendations. It may be that one policy does not satisfy all your needs so a suite of suitable policies may be required.
Ideally yes, but in reality everyone has a budget they are willing to allocate to their needs. Your adviser will help you to highlight which areas may cause the most detriment to your family’s finances and future. Together you will establish your spending priority and then devise a plan ‘B’ for other areas until you feel financially secure enough to fund them.
Of course, you may have plans in place already and your adviser will review these in line with your current circumstances and future plans. If the policies you already have are still right for you then great, if not your adviser will recommend alternatives. Even then, nothing stays the same forever and it makes perfect sense to check these policies are still right for you at your yearly review meeting.