Why would my income stop?

Whilst not pleasant you do need to consider how you will continue with your normal standard of living if the worst were to happen. There are a few reasons why your income might stop.

• You may have an accident or illenss which prevented you from working. In which case, for most people, your employer would stop paying your salary after a period of time. 
      
• You may be made redundant and it could take some time to find alternative employment.  
     
• You may suffer premature death which would affect any dependants which you may leave behind.

Most people initially take the view that 'This won't happen to me'.

But... lets say it did, what would you do?

You may be able to support your monthly outgoings from savings, but sooner rather than later you would not be able to fund your ongoing committments.

The question to ask yourself is 'How important is it to me to ensure that no matter what my financial circumstances are I am able to continue funding my monthly commitments?'

If the answer is 'Not important at all - I (or my family) will deal with the consequences if it happened' then you don't need to take any further action BECAUSE you are fully aware of the implications (e.g. perhaps having to sell your house.)

If the answer is 'Very important. I want to maintain my standard of living and meet my monthly commitments no matter what' then you should consider the following protection:

• Income protection  
    
• Life Assurance protection 
      
• Critical Illness protection  
    
• Unemployment cover