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Why Investing In Protection Is Like Turning On The HeatingCREATED BY SHEILPA PANCHAL As we head into Autumn and the temperatures decline, many of us are putting off the big 'turn-on' of our heating systems. However, much like the reluctance to confront the impending cold in our homes, deferring the acquisition of protective measures may lead to significant repercussions ... The consequences of inaction in both cases can be severe, so it is essential to understand the parallels between these two decisions. Although some may think they can manage without immediate action, this mindset can prove detrimental in the long run. As I sit here, considering putting on a cardigan, I cannot help, but ponder the parallels between activating the heating and investing in protection policies for myself and my family. Both necessitate a certain degree of acceptance ... acknowledging that summer has concluded and recognising that we must prepare for the future. However, why do we frequently postpone these actions?Perhaps it is the apprehension of confronting the reality that we are ageing, or the anxiety surrounding additional expenses. Just as turning on the heating signifies that our energy bills will inevitably rise, investing in protection policies for things like critical illness and life insurance can also lead to increased costs. This is where many of us overlook a crucial point: delaying these actions can ultimately result in greater expenditures over time. Let us begin with the act of turning on the heating itself. We are all aware that once we flip that switch or turn that dial, our energy bills will begin to climb. But what we often neglect to consider is that the longer we hesitate, the colder it becomes, necessitating even more energy to heat our homes. And if we keep it off for too long? The mould and dampness could ensue, which is something none of us want in our homes. The same logic applies to protection; the more we defer our investment, the higher the eventual costs will be!In recent years, the price of insurance ... especially life insurance ... has notably declined, while the quality of coverage has improved significantly. This suggests that investing in protection now can indeed be more economical than it has ever been. However, the longer we postpone this decision, the more costly it is likely to become. Another crucial aspect to consider is that, when it comes to protection, time is of the essence. Every day we delay obtaining a policy, we risk exposing ourselves to potential dangers. Just as the cold can infiltrate our homes, unexpected events can occur in our lives that may render us vulnerable and unprotected!By hesitating too long to invest in protection, we jeopardise not only ourselves, but also our loved ones. The longer we wait, the greater the likelihood that our health will change. This will lead to increased premiums and sometimes, even a complete denial of coverage. Because we invest in protection sooner rather than later, we can lock in better rates and ensure we are safeguarded against any unforeseen circumstances that might arise. However, the ramifications of postponing protection extend beyond mere financial considerations!It also encompasses the tranquillity that accompanies the knowledge that we have undertaken the essential measures to safeguard ourselves and our loved ones. Just as activating the heating system can instil comfort and warmth within our residences, investing in protection can foster a profound sense of security and stability in our lives. Get in touch and let's talk about the best protection policies for you and your family to help you maintain a sense of warmth and security for the years to come. Do not procrastinate until it is too late. Until next time ...
SHEILPA PANCHAL
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