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Financial wellbeing: income protection

Income Protection

In the realm of financial security, Income Protection stands as a shield against the uncertainties of life. It is a crucial insurance product designed to provide a consistent income stream if you are unable to work due to illness, injury, or disability.

What is it? How does it help you?

This valuable coverage ensures that even in times of adversity, your financial stability remains intact, enabling you to meet your living expenses and maintain your standard of living.

While obtaining Income Protection insurance is a prudent step towards securing your financial well-being, the importance of periodic policy reviews cannot be overstated. Here's why maintaining a habit of regular reviews is essential:

1. Adapting to life changes: Life is dynamic, marked by various milestones such as marriage, parenthood, or career advancements. Regular policy reviews ensure that your coverage aligns with your evolving responsibilities and financial goals.

2. Accounting for inflation: Over time, the cost of living tends to rise due to inflation. Periodic reviews enable you to adjust your coverage to match the changing economic landscape and maintain the purchasing power of your benefits.

3. Occupational changes: Changes in your career or occupation might impact the terms of your policy. Reviewing your coverage ensures that it remains appropriate for your current professional situation.

4. Policy enhancements: Insurance providers may introduce enhancements or additional features to their policies. Regular reviews help you stay informed about these updates, enabling you to optimize your coverage.

Income Protection is a fundamental pillar of financial security, offering peace of mind during challenging times. However, the effectiveness of this protection depends on its alignment with your ever-changing circumstances. Regularly reviewing your policy ensures that your coverage remains relevant, reliable, and ready to safeguard your financial stability in the face of life's uncertainties.

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Assist Protect Limited introduces to St. James's Place Wealth Management PLC, which is authorised and regulated by the Financial Conduct Authority.

SJP approved 19th March 2025

Swann Financial is the trading name of Swann Financial Ltd. Swann Financial Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group's wealth management products and services, more details of which are set out on the group's website at www.sjp.co.uk/products

Assist Protect Ltd is regulated by the Data Protection Act 2018 and is registered with the Information Commissioner's Office, ref. Z2148051. Registered office: Mercia Place, 2 Main Street, Repton, Derbyshire, United Kingdom, DE65 6EZ. Company No. 7184256.

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