On day 3 of this third annual Income Protection Awareness Week (IPAW), I want to shine a light on the topic in focus, Income Protection. As the Principal of Mark One Financial Services with over 15 years of Financial Services experience, my career has been devoted to assisting people in securing their financial futures. One great avenue to achieve this is through Income Protection.
As we step into the winter months and into 2024, it is important to keep the conversation about Income Protection going as fresh faces join the workforce, and seasoned generations either retire or embark on their journey towards retirement. Some people at the tail end of their work lives have recently had to deal with losses of income during the COVID-19 pandemic furloughs and lay-offs. For them, this income loss came at a crucial period in their careers and it impacted the retirement plans of many people. This is a cautionary tale for younger generations to take steps to secure their incomes against unforeseen situations. Further, in these times of skyrocketing living costs, it’s imperative to contemplate the repercussions of not having income protection in place.
Picture this, You unexpectedly fall ill or find yourself in unforeseen circumstances, and you don’t have a financial safety net. How much of your income would you receive in such a scenario? It’s a question that every one of us should ponder. Income serves as the bedrock of financial planning, the very basis upon which all our other financial aspirations are built. If there’s one thing we can all gain this week, it’s equipping ourselves with the knowledge to make informed decisions that align with our individual financial objectives.
In the spirit of Income Protection awareness, I wholeheartedly encourage you to seek guidance from seasoned income protection experts concerning your specific situation. What steps should you take to secure coverage and peace of mind? Why is income protection the right choice for you? What terms and conditions can you expect? These are all valid questions that an income protection expert can answer, offering you the clarity and direction you need to take action today.
In these challenging times, having a financial safety net is not a luxury; it’s a necessity. Let’s use this Income Protection Awareness Week as an opportunity to ensure that you and your loved ones are safeguarded, come what may.
Mark Duguid
Principal