Please note all of the characters in these stories are fictional. However all of the circumstances that have been mentioned in these stories can and have happened in the past.
Protect your family
How would your loved ones cope if you died or were incapacitated by illness? It’s ironic that we all protect our cars with insurance. But many people fail to safeguard their families against the devastating effects of a sudden loss of income.
At Essential IFA we can help you choose a life or income protection policy that will give you complete peace of mind.
Our experience and expertise make all the difference, ensuring the policy provides the right cover for your needs.
Louise and John’s story
When Louise and John met in their 30s it was love at first sight. Two years later they were married and had bought a house with room for a family. When baby Mia came along, Louise decided to give up work, while John advanced his career as an IT consultant. A year later Mia gained a little brother, Ben, and things couldn’t be better.
Louise and John wanted to provide the best for their family. However, they never seemed to get around to planning their finances more effectively, with mortgage payments and day–to–day bills taking priority over insurance cover.
Then their world was turned upside–down. John was diagnosed with an inoperable brain tumour and, tragically, succumbed to the disease six months later.
Louise and the children’s future without family protection
- John’s employer paid sick benefit while he was alive. However, Louise is now left with no income.
- Louise returns to work, but can’t earn enough to meet her monthly outgoings. She is forced to sell the family home and she and the children move in with her parents.
Louise and the children’s future with family and personal income plans and a critical illness plan
- As soon as his illness is diagnosed, John is able to claim on his policy and put all the family’s finances in order.
- After John’s death Louise pays off the mortgage in full with the mortgage protection benefit and uses the family protection benefit to manage household bills and expenses.
- She also uses the family protection benefit to provide a monthly payment to help support the children until the end of the policy term.