Your income may be your most important financial asset. This enables you to live and enjoy your life, pay all the bills and also save for the future. Losing your income without being able to replace it is a catastrophic event in most households, and places your entire family’s financial future at risk.
An accident, serious illness or death often removes your income in one foul swoop. While the risk of these events happening cannot be entirely removed, the financial consequences of them can be. You can ensure that financial hardship is not an outcome to be managed, along with the sadness and grief of these events.
To manage these risks, your starting point is a full analysis of your financial circumstances, your income needs today and in the future, your financial commitments and any existing protections in place. From this a Gap Analysis is completed, which sets out your potential financial exposure from unexpected events. Finally a plan is developed to prioritise and mitigate these risks, so that you can live your life without worrying about the “what if” situations that could occur.