Often, we look back at situations we’ve been in and wonder if, in hindsight, we’d have made different choices. We don’t know what the future holds, so sometimes change can seem unnerving. Often it’s the small changes that can make a huge difference to how your life pans out.
This does not constitute advice and advice should be sought in all instances before acting on it.
Protection is one of those life-altering changes you need to make
It may not seem like much to you now, but when you need it most, you’ll be thankful for protection cover. This could be one or a combination of Life insurance, Critical Illness cover and Income Protection insurance.
Case study: Dr T Wright shares how critical illness insurance paid off their mortgage when they needed it most.
The unknown is around the corner and it is best to be prepared
No one can tell the future, which is why, as financial advisers, we look at planning for every eventuality. While we know that you can’t plan for everything, what is possible, is to have a range of protection in place so you can live with the peace of mind that should the worst scenarios come true, you and your family are in safe hands.
The financial chaos that can ensue from a death or diagnosis of a serious illness can be devastating. It’s during this time that we find out how good our cover is and if it really meets our needs. It’s not something you wake up one day knowing what protection you’ll need, so it’s vital that when arranging a mortgage or reviewing other financial assets your speak to your IFA about getting suitable protection.
“I set up an Income Protection Policy with Dental and Medical Financial Services help. They first looked at my overall situation and provided me with all the advice I required. I felt listened to and was kept informed about the progress.”
Dr Nuzhath Consultant Psychiatrist MBBS, MRCPsych
Insurance doesn’t have to hide in a drawer waiting for dark moments in life
Protection isn’t all doom and gloom. We work with providers who include a number of extra benefits in their policies that you can take advantage of without needing to claim first.
These range from around-the-clock GP services, legal advice, nurse-led helplines, and counselling. You can even use early intervention services like physiotherapy, osteopathy and, importantly, mental health guidance and support. With the constant pressure doctors and dentists are under, these extras can actually be more important than you first realise.
Some providers also give you access to rewards to get you healthy and being active – reducing your risk of falling ill to sickness and disease. It’s through these extra benefits that you find value for money in your protection even if you never have to claim.
The benefit of your adviser when claiming
Providers and their processes can vary widely, so when you need to claim, talking to your adviser can bring you a huge amount of comfort.
Your adviser is there to provide clarity on your next steps at each stage of claiming, and can give you someone else to talk to when you have a list full of questions. We often find that customers feel this extra support during a tough time is the most valuable part of their policy.
Don’t leave your future to chance, speak to a professional
Speak to us about your financial planning needs – we will help you work out the best way to protect your wealth and your family in the event of sickness of death. Let’s discuss your specific protection needs, arrange protection for you, and talk you through policies that provide you with a day-to-day benefit.
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Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.