Originally published in 2020. References to the pandemic and research below describe that period; they are not current health or financial forecasts.
Money worries can add to stress, and feeling overwhelmed can make financial decisions harder. Organising the information you have and identifying the questions that matter to you may help you feel more prepared. Insurance is one possible part of a wider financial plan, but it is not a treatment for anxiety or a guarantee of financial security.
Start with a clear picture of your finances
List your essential spending, debts, savings and any support already available through your employer. If you share a household, discuss what would happen to regular bills if one person died or could not work for a period. This can help you identify a gap to explore, without assuming that a particular policy is necessary.
Consider existing support and the limits of a policy
Life Insurance, Critical Illness Cover and Income Protection address different events. A valid claim, the amount payable and any exclusions depend on the policy terms and your circumstances. Cover may help with costs, but it cannot ensure a family will keep its home or maintain its lifestyle. Check any employer benefits before taking out new cover.
Ask for appropriate help
If money worries are affecting your mental health, consider speaking with a qualified health professional or an appropriate support service. For debt or budgeting questions, independent money guidance may be more relevant than an insurance policy. An insurance adviser can explain cover options, exclusions and application requirements; they cannot promise a health outcome, acceptance by an insurer or a particular premium.
Start a protection enquiry if you would like to discuss the personal protection options with an IM-Insured adviser. This is a request for a call, not an instant online quote. You can also contact us with a question.
