Recent research from Legal & General (L&G) has uncovered critical insights into how individuals manage their financial protection during major life transitions, particularly divorce. At Mortgage Tree, we understand that life's unexpected changes can have profound implications for your financial security and mortgage protection.
The Overlooked Financial Risks of Divorce
Shocking statistics reveal the financial vulnerabilities many people face during separation:
Only 7% of divorced individuals discuss life insurance beneficiaries during their separation
A mere 27% cancel joint life insurance policies post-divorce
11% delay or forget to update their wills, leaving ex-partners as potential beneficiaries
Why Protection Matters More Than Ever
The research highlights a concerning trend: post-separation, individuals are not prioritizing their financial protection:
Just 4% take out critical illness cover
Only 3% secure income protection
Mortgage Tree's Protection Approach
At Mortgage Tree, we recognize that life transitions like divorce require comprehensive financial planning. Our protection advice focuses on:
Immediate beneficiary updates
Comprehensive policy reviews
Tailored protection solutions that adapt to your changing life circumstances
James Shattock from L&G emphasizes the critical role of professional advice during separation. We couldn't agree more. Our advisers specialize in guiding clients through complex financial landscapes, ensuring you're protected at every stage of life.
Key Recommendations
Review Your Policies Immediately: After any major life change, reassess your life insurance and protection coverage.
Update Beneficiary Information: Ensure your policies reflect your current personal circumstances.
Consider Comprehensive Protection: Critical illness and income protection are vital safeguards for your financial future.
Mortgage Tree's Commitment
We offer a free financial health check tool designed to help you navigate life's transitions. Our goal is to provide clarity, protection, and peace of mind when you need it most.
Don't leave your financial security to chance. Contact Mortgage Tree today for a comprehensive protection review.
Telephone - 07773064911
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