When you read the words ‘protection products during coronavirus’ you probably think face masks right? Or maybe one of those snazzy plastic visors that makes you look like Jennifer Beals in Flashdance? (The welding bits, not the exotic dancing.)
That’s not what I’m talking about today.
(Sorry Flashdance fans.)
I’m talking about financial protection products like life insurance, critical illness cover, that sort of thing – insurance products that protect you financially when the worst happens. I mean I guess you could print out a copy of your insurance certificate and try and fashion it into some kind of face covering but it’s really not the same thing.
Can I afford life insurance though?
If you’re anything like me then one of the first things you did when the virus really started to take hold, other than worry about zombies, was to take a long hard look at your direct debits and start figuring out which ones you could get away with cancelling.
(Gym membership obviously, probably the fancy coffee subscription, do pets really need insurance?…)
I took the three month ‘holiday’ on my mortgage and bank loan, I (temporarily) stopped buying weird cat print dresses on the internet, and I gave some serious thought as to whether I really needed my income protection insurance when I could quite possibly have no income left to protect.
I panicked basically, about what I could and could not afford any more. I’m sure I wasn’t alone.
On the back of all this panic has come a lot of misinformation and misconceptions about the best thing to do about protection products, whether you can afford them or not, and whether you can even get cover anymore. As a result, a lot of families have been worrying or struggling unnecessarily.
The advice from LifeSearch is to GET PROTECTED. It’s not to late to get cover, whatever your budget.
Um, who is LifeSearch exactly?
Going for over 20 years now, LifeSearch is the UK’s biggest insurance broker. LifeSearch advisers offer free, expert, independent advice to customers around life insurance, critical illness cover, income protection, family income benefit, serious illness cover and business insurance. They are also one of the few independent advisers who offers a free claims support service, and can help you through the claims process if you get stuck.
In two decades LifeSearch has protected hundreds of thousands of UK families from the financial fallout of catastrophe, critical illness and death and has picked up hundreds of awards for its culture, expertise and customer service. LifeSearch has a Trustpilot score of 4.9, based on over 11,000 reviews, and is ranked number #3 in the Sunday Times’ 2019 list of Best Places to Work.
Basically they know what they’re talking about when it comes to protection products.
Okay, fair enough. So can I get cover for coronavirus?
Despite what you might think, it is still possible to take out a new life insurance policy that will pay out for coronavirus. It is worth noting that many insurers have introduced new questions to determine your risk and it’s really important, as when taking out any protection policy, to answer these questions truthfully.
In terms of critical illness insurance, coronavirus isn’t currently seen as a critical illness in its own right but if it was to cause a condition that is covered on your plan, then you would receive a pay out. This is true of new policies too.
What do I do if I’m currently unprotected?
The best thing to do if you’re looking to take out protection products like life insurance is to contact a broker such as LifeSearch. Their advisers are experts of the whole market and will talk you through all your options from different insurance providers depending on your specific circumstances. They can help you find a product that’s right for you AND your budget.
And how do I make the transition from exotic dancer to ballet school?
I told you, this isn’t Flashdance.
If you want to get free, expert advice though about the best protection products for you and your family, then LifeSearch can definitely help.
Give the expert team a call on 0800 316 7253 or visit the LifeSearch website now.