A financial and wellbeing safety net
Home >
All >
A financial and wellbeing safety net
Life has a funny way of turning out differently to how we expect it. When faced with the unpredictable twists and turns of fate, it is comforting to have the support of the right protection cover for your needs.
Rising bills reinforce need for protection
Increased household bills, mortgage and rent costs, mean that protection is more important than ever right now. Have you considered how you would be able to afford your monthly outgoings if your family were to lose the income of the primary earner through death or illness?
Longer-term mindset
In response to these challenging conditions, some households are considering reducing their level of protection – and are therefore at risk of leaving themselves vulnerable to financial shocks.
It may seem tempting to save a few pounds a month by cancelling or postponing taking out cover. But there is a risk that, should the worst-case scenario strike, you and/or your family will be left in a difficult financial position.
Support for your wellbeing as well
Did you know – mental health issues are one of the top reasons for claiming under income protection? One leading provider1 paid £6m in income protection claims last year of which a third (£1.91m) related to mental health claims. Many life and critical illness policies also include support services for mental health issues.
Essential
Protection is an essential part of long-term financial planning for everybody. Having the right insurance cover for your unique needs is an indispensable financial and wellbeing safety net for you and your loved ones.
1Zurich, 2023
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
Other Insights of interest
22nd July, 2026
Freeze the higher rate tax burden
While workers were raising a glass to a pay rise, the government’s decision not to…
Read full insight
14th July, 2026
Balancing family support and retirement goals – take time to reflect this summer
As we settle into the summer, many of us finally find the breathing space to…
Read full insight
9th July, 2026
Protection policies – just 42% hold one – Protection
Have you got protection in place? A survey of over 14,000 UK consumers1, has discovered…
Read full insight
2nd July, 2026
Economic Review – June 2026
Bank of England keeps rates steady as stronger Q1 growth revealed The Bank of England’s Monetary Policy…
Read full insight