What is the best life insurance for these uncertain times?
Unprecedented events have the ability to bring into scrutiny what is actually important in our lives. The coronavirus is certainly pushing people to revaluate everyday situations, whether it is health, finances, family, work and socialising, we find ourselves plummeted from normal to surreal in a matter of weeks.
We are not quite three months into 2020 and this year will go down in the archives as one of the most uncertain since the end of the wise elders’ era.
Currently, Europe remains the epicentre of the virus and insurance will be one of the first instances for many people to turn to.
What is happening right now in Italy fills us with dread has us questioning those fragile threads to health and life; no doubt, we are all worried about the future.
Some might take a positive outlook and see this as an opportunity, a challenge for our communities to join forces, whereby we can build an improved future with a healthy environment, one that reflects on the positives of this viral outbreak.
Unprecedented virus calls for specific financial thinking
For the most part, our children and we as adults have never witnessed or suffered strife, and this wartime effort to combine efforts to kill the virus show the true nature and colours of our friends and neighbours.
For the savers and financial planners amongst us, we might rely on our well-earned savings or insurance payouts to help us through these difficult times, whether it is life insurance, health insurance or income protection insurance.
The concept of insurance in these hard times allow many of us to emerge from catastrophe and avoid financial ruin, for example, savvy business owners may find it easier to make a comeback especially those with business interruption insurance.
Understanding exactly how your policy protects you is always important, but even more so in a time of this global pandemic.
Best life insurance cover for future financial planning
For the unfortunate few who do not have insurance or savings as a fall back in these tough times, this will serve as a wakeup call to take a look at specific insurance to protect from similar events in the future, whether it is for business owners, families or individuals.
Protecting our families, our businesses, our outgoings, and ourselves is a lesson we are learning. We hope that the UK government will step in with financial handouts, tax breaks, and loans to help those that are suffering the most, but now is the time to confront the uncertainties that will come in future years, long after this virus epidemic has ceased to exist.
Planning for the future has never been so pertinent
It looks as though the coronavirus crisis is here to stay for the immediate future, but it will serve as a bitter reminder of how important it is to have adequate insurance to cover losses brought on by such a grim disaster. Life Insurance remains a crucial financial product, providing protection for loved ones over the unknown.
Keep safe and keep washing those hands!
It is important to bear in mind that for most people who contract coronavirus go on to make a full recovery and the outlook is looking positive with the stringent measures in place to combat the virus. Keep safe and follow Government guidelines to help win this battle
In case you need advice on life insurance…
Don’t forget, you can complete our online form, and an adviser will call to discuss life insurance, find out what is relevant to your personal circumstances.