Imagine Covid without Furlough!

 

The Government’s furlough scheme has been a lifeline for many over the last year, providing an income for approximately 10 million UK workers since the onset of the pandemic. Even if you haven’t been furloughed, you’re sure to know someone who has; just think what would’ve happened to those workers if furlough hadn’t been introduced?

 

While the events of 2020 are unique in their severity and coverage, the past year or so has served as a stark reminder that protecting your financial future is an important consideration. While the furlough scheme operates at a national level, income protection can be taken out by individuals to protect income and provide financial support for you and your family in the event that you cannot work due to sickness or injury. It provides a safety net, a support blanket which will enable you to continue to pay your bills, keep your house, feed your kids.

 

Often, when I talk to clients about any protection including income protection the reply is “it will never happen to me!” or “I have savings to cover this”, however if there is one thing that the pandemic has shown us it’s that we simply don’t know what is around the corner and it’s better to be protected should the unexpected happen. Even if you do have an emergency fund in place, this may not be enough if your claim is for the long term.

 

Have a think about your own situation, would you be able to cope financially if your income stopped? If the answer is no, then let’s chat about Income Protection to give that peace of mind.

 

Feel free to contact one of LightSide’s chartered financial planners for a free initial consultation.