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On a journey to a client’s home this week I was enjoying the scenery, relaxing in my car with my favourite radio station playing in the background when all of a sudden the car in front of me was hit by a HGV that pulled out from a very narrow lane onto the main highway. Also this week a friend of mine called with the unhappy news that they have just been made redundant. Two very separate events in one week with life changing outcomes for those involved. This got me thinking, if I had left work just 2 seconds earlier I could have been the driver hit by the HGV…

My point is that none of us know what is round the corner. Therefore we must always consider all outcomes. The sun does not always shine, markets do not always go up and a job is very rarely for life. Yet by accepting this knowledge, and planning for such eventualities, we can create options for ourselves. By law in this country if you drive you must insure your vehicle. There is sadly no law that states if you have children or borrow sums of money you must protect your income. Over the past couple of years you may have read in the press that many of the big banks have been found guilty of mis-selling insurance. Whilst this cannot ever be condoned I wonder how many of us are guilty of simply signing the form and not reading the small-print?

Life insurance, income protection and critical illness cover are all extremely important policies and have genuine life changing benefits when clients need them the most. I have unfortunately seen first-hand the effects of clients who have been under insured following the death of a family member and it is a horrible position for anyone to find themselves in. I only hope the negative press surrounding the mis-selling scandal does not put those who have genuine need for such policies off from enquiring or accepting genuine advice.

You can be confident that here at FMB all of our advisors follow stringent rules to ensure that your circumstances are understood, needs are quantified and then at the very end does a potential policy even become a consideration when we search the whole market.

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Financial Management Bureau Ltd is a limited company registered in England and Wales. Registered office: Shenstone House, Helsington, Kendal, Cumbria LA8 8AA. Registered number: 02089786