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Four Easy Steps to Make Your Insurance Choices an Asset

Insurance is an asset for your long-term financial well-being. Private Clients value their insurance decisions, understanding, relying on and trusting their choices. How can insurance be an asset if you’re spending money on something that might never happen? By investing in a quality product and service, you can protect your wider assets.  This peace of mind in turn enables you to focus on other areas of your life.

 

Start from the top

Your income is the main driver of your financial success.  It’s what enables you to invest in and grow other assets.  What would your financial stability look like should something change this? What if your ability to generate income stopped overnight due to poor health? You need to treat it as a vital asset and ensure you have the right protection in place for it.

 

Insurance can be a partnership

As with all things in life, what you put in is what you get out. A good advisor will work with you to understand your needs and review your existing insurance.  They’ll tell you where you where there are gaps, or indeed, where you can make smarter, cost-effective decisions via different approaches.  Ultimately, your insurance broker should be a trusted advisor, build on that relationship.

 

Look ahead

It’s wise to make insurance a key part of financial planning for the future. Build it into your finances and map out where it sits in your plan – for this year, five years and beyond. As your lifestyle evolves, be it through key life events or financial circumstances, so will your financial needs.  Understand where insurance sits within this.

 

Be open to change

Treating insurance as an asset is a mindset. While people understand tangible investments – be it a home, a car, a piece of art – insurance is something you tend to think about only when you need it.  It can be viewed as a mistake for something that “probably won’t happen.”  Knowing that your hard work and finances are protected should something happen, has a value. The financially astute get that value and are prepared to invest in that.

More information on our Insurance Secrets campaign is available here:

http://www.macbeths.co.uk/2015/08/insurance-secretsfor-high-net-worth-individuals/

*Information correct as of 1st May 2016

Author: Simon Claxton | October 9th, 2015

Contact the author

Simon Claxton
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk