Nearly half (44%) of UK workers overestimate the monthly cost of income protection, life cover, and cash plan policies*. This highlights a significant gap between perceived cost and reality, meaning many are missing out because of misperceptions around price.
Life cover pays out a lump sum in the event of your death, while income protection pays a percentage of your salary while you recover from an illness or injury.
A cash plan is an insurance policy that can help to cover the cost of everyday healthcare, such as visits to the dentist, opticians or physiotherapy, by reimbursing you for some or all of the cost of routine and/or unforeseen healthcare costs and appointments.
An insurance policy could provide you with valuable peace of mind during these turbulent times, and we’re here to talk you through both the product options available and accurate costings.
As the weather becomes increasingly unpredictable, protecting your home against storm damage is crucial for both safety and financial well-being. Here's a short guide on how to protect your home and navigate the process of making a claim on your home insurance in case of storm-related incidents.
Carry out a home checkup
Regularly inspect your home's exterior for vulnerable points that could be compromised during a storm. Check for loose roof tiles and weak points in doors and windows. Reinforce or repair these areas to reduce the risk of water infiltration and structural damage.
Secure outdoor items
Before a storm hits, secure outdoor furniture, grills, and other loose items. Flying debris can cause significant damage to your home, so stow away or anchor anything that could become a projectile during high winds.
Trim trees and branches
Trim overhanging branches and remove dead or weak trees near your home. This prevents them from becoming hazardous during a storm, reducing the risk of falling limbs damaging your property.
Reinforce garage doors
Garage doors are often vulnerable during storms. Strengthen them or, if possible, replace them with a wind-resistant model. This can prevent significant structural damage to your home.
Making a home insurance claim
Despite all precautions, storms can still cause damage. If you need to make a claim on your home insurance, follow these steps:
1. Document the damage
As soon as it's safe to do so, document the storm damage by taking photographs and making a list of affected areas and items. This documentation will be crucial when filing your insurance claim.
2. Contact your insurance company promptly
Notify your insurance company as soon as possible. Provide them with a detailed description of the damage and follow their instructions for filing a claim. Many insurance companies now allow you to initiate claims online or through a mobile app.
3. Obtain repair estimates
Get repair estimates from licensed contractors to submit along with your claim. Ensure these estimates are comprehensive, covering all aspects of the damage. Your insurance adjuster may also assess the damage and provide their own estimate.
4. Cooperate fully with the claims adjuster
When the insurance adjuster visits your property, be cooperative and provide any necessary documentation or additional information they may request. This will help expedite the claims process.
5. Keep records of expenses
Keep detailed records of all expenses related to temporary repairs and accommodations, as these may be reimbursed by your insurance company. Maintain receipts and invoices for transparency during the claims process.
Protect your home against storm damage
Spring is just around the corner, and with the promise of warmer days and blooming flowers, many homeowners find themselves yearning to breathe life into their outdoor spaces.
Your garden, often an overlooked canvas, can be transformed into a tranquil haven where you can relax and immerse yourself in the beauty of nature. If you aren't sure how to make your plans a reality, one option is to use a lifetime mortgage for home improvements.
Unleashing your garden's potential
A lifetime mortgage is a financial solution that allows homeowners to access the value tied up in their property. This can be a game-changer when it comes to bringing your dream garden to life. From floral arrangements to cosy nooks for unwinding, the possibilities are as vast as your imagination. If you are unable to provide the funds yourself to meet the cost, this could be the right option for you.
Creating your garden sanctuary
Imagine strolling through your own lush paradise, surrounded by vibrant colours and the soothing sounds of nature. A lifetime mortgage can provide the means to invest in landscaping, hardscaping, and even the installation of features like a water fountain or a gazebo. These enhancements not only add value to your property but also create a space where you can escape the hustle and bustle of daily life.
Choosing the right option for you
Before delving into a lifetime mortgage, it's crucial to seek professional financial advice. A qualified adviser can help you explore the various options, understand the potential impacts on inheritance and tax, and ensure that a lifetime mortgage aligns with your overall financial goals.
Explore how a lifetime mortgage can turn your garden aspirations into flourishing realities
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
February is the month of Valentine's Day, and a time where the air is filled with love and expressions of affection. While chocolates, flowers, and romantic gestures are appreciated, this year, consider a gift that expresses a commitment to a future filled with care and consideration.
The ultimate Valentine's Day gift? Arranging a Will.
Securing your loved one's future
Love is about more than just the present moment; it's about ensuring the well-being of your loved ones even when you're no longer there. A carefully arranged Will is a profound expression of this commitment. It provides a legal roadmap for how your assets will be distributed, making sure your loved ones are taken care of and your wishes are honoured.
Peace of mind for both partners
The process of arranging a Will eliminates uncertainties and ensures that, in difficult times, your loved one won't have to navigate the complexities of estate distribution alone. Instead, they can focus on cherishing the memories you've created together.
Protecting your legacy
Your life is a story, and your legacy is the imprint you leave behind. A Will allows you to shape that narrative, ensuring that your assets, sentimental belongings, and even charitable contributions reflect your values. It's a way to preserve your story and pass on your love to future generations.
While it might not be the most conventional Valentine's Day gift, a Will is a practical and responsible choice. It demonstrates a commitment to taking care of your loved ones in every aspect of life, including the inevitable uncertainties. By addressing financial and legal matters together, you're ensuring a smoother transition during challenging times.
Give your loved ones the ultimate Valentine’s Day gift
Wills and Estate Planning are not regulated by the Financial Conduct Authority.
Just like any meaningful relationship, building a strong connection with your finances requires time, care, and a touch of creativity. Whether you're embarking on a new financial journey or looking to rekindle the flame with your budget, these top tips will help you spark a stronger connection and fall head over heels in love with your finances.
Set clear financial goals
Just as in a relationship, defining your goals is crucial. What are your short-term and long-term financial aspirations? Be specific and realistic about what you want to achieve. Whether it's building an emergency fund, saving for a dream holiday, or planning for retirement, clear goals provide direction and purpose.
Create a budget together
A budget is like a roadmap for your financial journey. Sit down and create a budget that aligns with your goals. Track your income, categorise your expenses, and allocate funds accordingly. This not only helps you stay on track but also fosters a sense of teamwork between you and your finances.
Regularly check in
Just as you'd check in on your loved ones, make it a habit to review your finances regularly. Set aside time each month to assess your budget, track your spending, and adjust as needed. This proactive approach ensures that you're always in tune with your financial health and can make informed decisions.
Communicate openly
Communication is key in any relationship, and your finances are no exception. Be open and honest about your financial situation. Whether discussing shared expenses with a partner or conducting a personal financial review, transparent communication builds trust and strengthens your financial bond.
Prioritise saving
Building a secure future is an act of love toward yourself and your loved ones. Prioritise saving by automating contributions to your savings accounts. Whether it's an emergency fund, retirement account, or a specific savings goal, consistent contributions reinforce your commitment to financial well-being.
Eliminate debt together
Debt can be a source of stress in any relationship. Make a joint effort to eliminate high-interest debt. Create a plan to pay off debts systematically, focusing on one at a time. As you see progress, you'll experience the liberating feeling of financial freedom together.
Celebrate financial milestones
Just as you celebrate relationship milestones, celebrate your financial achievements. Whether it's paying off a credit card, reaching a savings goal, or investing successfully, take the time to acknowledge and reward yourself. Positive reinforcement enhances your financial relationship and motivates continued success.
Fall in love with your finances
