Protecting Yourself and Your Familyprotection image

It’s never nice to have to think about it but you could lose your job, fall ill or worse. Fortunately for most of us the chances of dying before we reach our retirement is low, making life assurance relatively inexpensive. There is a much higher likelihood of you not being able to work for an extended period yet few of us protect ourselves or our family sufficiently against these events.

Some startling facts to consider –

  • 5,800,000 in the UK of working age (16-65) have a long-standing illness, disability or impairment which causes substantial difficulty with day-to-day activities. That’s about 1 in 4 of the working population. [1]
  • Each year over 300,000 people become unable to work due to health-related reasons.[2]
  • On average we have savings enough for just 29 days if our household income suddenly stops.[3]
  • For the average family It could cost over £31,500 a year to pay someone to replace a Mum’s domestic work and nearly £24,000 for a Dad[4].

The cost of providing cover against the worst that life can throw at us is relatively inexpensive. We can advise on a range of policies to suit your specific circumstances. Listed below are some common types of insurance policies and an explanation of what each is designed to cover.


[1] Health at work – an independent review of sickness absence, November 2011, DWP
[2] Health at work – an independent review of sickness absence, November 2011, DWP
[3] Source: Legal & General Deadline to the breadline report 2014.
[4] Source: Legal & General Value of a Parent 2013 Research

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Richardson & Associates Independent Financial & Mortgage Services Ltd provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right times and at the right cost. It's simple!

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