Having a financial survival kit is critical in a world that is becoming less safe and the future direction of economies becomes more uncertain. So what should you have in it?

In this week’s episode, Ed and Chris consider some of the basics you need for a financial survival kit, plus one other that most people forget: life insurance and income protection.

The guys welcome onto the show Cavendish Online’s Ollie Popham to look at how life insurance and income protection work and how it can form a key part of your financial emergency preparedness.

Income protection in particular is poorly understood but can be extraordinarily beneficial for those who might not even think they need it. This is especially the case for those of us who think we’ll never fall ill or be unable to work - something that affects way more people than you might imagine.

Ed urges everyone to at least try going through the process to see what cover they might be able to get and how much it would cost. The price of such products might surprise you, especially if you’re young, fit and otherwise healthy now.

If you’d like to learn more about Cavendish Online and the brokering they offer for protection products, check out their website: https://www.cavendishonline.co.uk/

Chapters

00:00 Introduction and New Beginnings

02:48 The Concept of Financial Survival Kits

05:30 The Importance of Insurance in Financial Planning

08:07 Understanding Life and Income Protection Insurance

11:09 Navigating the Costs of Income Protection

13:44 The Role of Cavendish Online in Insurance

16:44 Personal Experiences with Insurance

19:15 The Value of Comprehensive Coverage

22:04 Final Thoughts and Recommendations

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DISCLAIMER

This video is produced for general informational purposes only. It should not be construed as investment, legal, tax, mortgage or other forms of financial advice. If in any doubt about the themes expressed, consider consulting with a regulated financial professional for your own personal situation. Past performance is no guarantee of future results. Investments can go down as well as up and you may get back less than you started with. Investments are speculative and can be affected by volatility. Never invest more than you can afford to lose. For more information visit ⁠⁠⁠www.fca.org.uk/investsmart⁠

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