How to lower the cost of your protection insurance

I think I can speak for all of us when I say it has been a challenging year and that’s putting it mildly! 

The good news is that many of us can see our families over Christmas and enjoy the best time of the year with some form of normality. Before I leave you all this Christmas, I wanted to round off the year with some good news, learning points for me from this year and some client and colleague feedback.  

Keeping physically fit can improve your mental welbeing

Ellie Newman, Insurance Broker in Cheshunt, Hertfordshire said:

‘Firstly, I believe one of the biggest things to come out of this year is how important mental health is and the continued importance of looking after yourself. Someone that kept me sane, fit and healthy this year was my personal trainer, and I can’t thank him enough. It was a challenge at first to adapt to Zoom personal training sessions but now I wonder why we didn’t utilise this technology more before the pandemic. My way of saying thank you to him for all his help and encouragement during this testing time is to introduce you to him and explain what he can offer and how you can not only keep your anxiety levels in check but actually save money by keeping fit. I am not recommending this primarily for monetary gain, which I know seems strange coming from a financial advisor, but as the office of national statistics recently pointed out that 19 million adults reported high levels of anxiety during the pandemic, it is something I thought important to mention. If this is something you feel would be of interest or will benefit you, please feel free to message the owner of ukfitclub Manoj Taylor at manoj@ukfitclub.com or visit his website https://www.ukfitclub.com. Please mention Thomas Oliver for an exclusive personalised service. Also, for those of you that think personal training is expensive you can get access to his exclusive live and on demand classes which include Yoga and Pilates for £14.99 per month per household!’

Why you should have protection insurance?

I mentioned physical training first because my motto has always been ‘health before wealth’, but now I want to focus on the protection insurance market which fits well with keeping physically fit. 

Thomas Oliver recommend taking out protection cover when you get mortgage advice

Ellie Newman, Insurance Broker in Cheshunt, Hertfordshire continued: 

‘After talking to colleagues, clients and reviewing my own business we have all seen a dramatic increase in the number of people enquiring about protection insurance and also the number of people willing to purchase insurance. This includes critical illness cover, income protection and life insurance. It is clear that the pandemic has had a big impact in changing people’s mind-set. Consumers no longer see protection as an optional extra but more of a necessity. Many people are now willing to cut back elsewhere in order to make sure they have the disposable income to provide for these insurance policies. Now some protection products are not cheap and this is where one of our providers, Vitality Life may be able to help. Vitality Life offer an interactive policy so the premiums you pay can go down and you are given cashback the more you engage with the policy. One of the forms of engagement is through keeping and maintaining your fitness and wellness, so now you really can save money by keeping fit! Now I know this policy is not for everyone as the opposite can happen if you don’t engage with the policy, which is why we have suitable alternatives to match everyone’s needs and specific requirements. If you would like protection advice, please contact one of our Thomas Oliver mortgage brokers on 01707 872000. Our mortgage advisors are based in Goff’s Oak, Hertfordshire. We work with clients across Hertfordshire, Bedfordshire, Essex and North London offering mortgage and protection advice.’

In Summary…

Overall, we can take the positives from this year which is ‘health before wealth’ and the change of mind-set to make sure you and your family are adequately protected, no matter what the cost. Please do not hesitate to get in touch with one of our mortgage brokers or financial advisers on 01707 872000 if you have any queries on the above. From everyone at Thomas Oliver we wish you and your families a Merry Christmas. Please stay safe and Happy New Year.