4 Pillars of Protection - with Adrian Benjamin - The Property Nomads

4 Pillars of Protection - with Adrian Benjamin

Rob interviews Adrian Benjamin, a financial protection specialist with over 10 years of experience in the banking industry. Adrian shares his expertise on protecting wealth for the short, medium, and long term, with a focus on family life planning.

He discusses the importance of life insurance, wills, and trusts, and highlights the need for comprehensive protection in case of unforeseen events., focussing upon the affordability of these measures and addresses common misconceptions about insurance payouts.

KEY TAKEAWAYS

Life insurance is a crucial aspect of family life planning, as it provides financial protection for your loved ones in the event of your passing. It helps to cover the loss of income and can be used to pay off debts, support children's education, or invest in properties.
It is important to have a will in place to ensure that your assets are distributed according to your wishes after your death. A will specifies who gets what and helps to avoid potential conflicts among family members.
In addition to life insurance, it is essential to consider other forms of protection, such as private medical insurance, income protection, and critical illness cover. These policies help safeguard your health, ability to earn an income, and provide financial support in case of serious illnesses or accidents.
Many people underestimate the affordability of life insurance and other protection policies. Working with a specialist broker can help you find the right coverage that fits your budget. It is important to seek professional advice and understand the benefits and costs associated with different policies to make informed decisions about your family's financial security.

BEST MOMENTS

"A will is a no-brainer, but as you said, there's probably going to be a lot of people listening to this that haven't thought of that."

"So, if you get private medical, you're actually helping the NHS because you're coming out of the queue. You're freeing space up if you can afford it."

"So, for me, there's four pillars of protection and people just go to life insurance where it's a bit cliche, but health is wealth, right? If you're not healthy, you can't work, you can't get an income that's massive."

"So, if you have your own critical illness cover, you can say, look, I'm going to take a year, two years off, or I'm going to go on holiday. I want to spend more time with my family, or I want to get medical treatment abroad that might cost a bit. That's what that policy is for."

VALUABLE RESOURCES

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GET YOUR DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

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ABOUT THE HOST

Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.