Before you cancel important insurances; STOP!

In times of financial hardship it is tempting to cancel insurances for your life and your home.

This is the very time that you may have most need for these insurances.

Things to consider before cancelling;

• In light of the current climate many insurers are reviewing their policies and offerings; this may mean that, by cancelling your insurances, you may never be able to get the same cover as you had; either as comprehensive or for the same price
• Can you afford NOT to have cover? What if something happens and you let your cover lapse, could you afford to stay in your home, support your children, keep up monthly payments on loans?
• Why did you take the insurance in the first place? Reflect back on why the cover was important to you, why did you take it, are you willing to take the risk and let your insurances lapse?
• Have you have a change in circumstances? Has your health deteriorated, have you become more high risk? If so any new insurance may be much more expensive and harder or impossible to get!
• Am I paying for something else which may be a better option to cancel? We all pay for luxuries; TV, subscriptions, phone insurance; is anything more important that your life and your home?
• Have I talked to an expert? There may be alternatives to cancellations, talk to a member of our team, they can review your options and help you make the best decision for you and your family.

If you are struggling then contact your IQ Adviser and they can review all the options available to you rather than just cancelling your insurance direct debits.

Some cover is better than no cover at all.