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Contingency plans a must for your clients

Is it true? Is 50 the new 40? Well, far from looking forward to retirement and settling quietly into the twilight years, many 50 year olds will still have teenagers living at home and a hefty amount left to pay on their mortgage.

Financial responsibilities still continue for a number of years and this poses a challenge should illness or death affect the family.

It makes sense, therefore, to have a financial safety net in place just in case the unthinkable does happen.

But rather than waiting until they are middle aged, consumers should be encouraged to take out financial protection when they are young.

For a start it’s cheaper. There is less likelihood of existing conditions that could add an extra premium to the cost and you only have to look at providers’ claim statistics to realise there is a need for people to have insurance at every stage in their lives.

There has been a lot of debate around Britain’s ageing population and the effect this will have on the economy, with people living longer now than previous generations did.

However, families must think carefully about their individual circumstances and the impact a critical illness could have on their family’s future.

A record number of people will be celebrating their half-century this year and many will still have financial responsibilities for years to come.

So if they haven’t already done so, suggest to your customers that they should put contingency plans in place now.


James Chidgey to lead new-build team

James Chidgey, senior manager of corporate accounts at Nationwide, is moving jobs to lead the building society’s new-build proposition from July 1. Chidgey has spent more than 20 years managing the development of Nationwide’s intermediary distribution. He will now move to the new-build sector and work with builders and specialist brokers. Nigel Stockton, financial services […]

Stop letting targets get in the way of delivery

The positivity at RESI was pleasing to see, with lots of encouraging discussion about the private rented sector (PRS), the possibility (or hope) of stamp duty cuts on the way in the Autumn Statement and the general prospects of residential property in this post-Brexit vote world. However, that positivity was often tinged with some negativity […]


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