In a 2019 study, nearly a quarter (22%) of workers said they would be unable to survive financially for more than a month if their income stopped. Just a year later, we have seen this hypothetical scenario play out in real life.
The coronavirus pandemic has proved the ultimate financial stress test on many people’s finances, showing how precarious their financial situation really is.
Opportunity to review
Now could be an excellent time to review your finances and boost your financial resilience. If you’re nearing the end of your mortgage deal, or are on your lender’s Standard Variable Rate (SVR), the current low-rate environment could make it the perfect time for you to get a more competitive deal.
Equally, a review of your protection needs will tell you if your current policies still adequately reflect your requirements. If you took out your policy years ago and your situation has since changed, you may now be underinsured.
Ready to help
Our professional advisers are here to assess your needs and find the mortgage or protection product for your personal circumstances. Financial advice is more important than ever, so please get in touch and Contact us today.
Your home may be repossessed if you do not keep up repayments on your mortgage
As with all insurance policies, conditions and exclusions will apply.