Podcast Alert!

March Overview

We have had a good mix of insurance discussions this past month, looking at technical parts of life insurance and having a special guest join us to talk about mental health and life insurance.

Money and Mental Health – S7 Ep4

Conor D’Arcy, Head of Research and Policy at the Money and Mental Health Policy Institute, joined me to talk about their recent Written Off! report. In it the MMHPI found that for some people getting insurance has not been easy when they have a mental health condition.

There are some really key things to take away from the episode:

• I shared my own experience of trying to get life insurance around 12 years ago and it not being a pleasant experience. I was very happy to be able to share that the insurance world has developed significantly in this time and with my mental health I am no longer declined by most insurers, and in fact I can now get standard terms for life insurance.
• There are still many people that are finding that accessing travel insurance, is not a positive experience. With some finding that their premiums are increased by as much as 27x the basic premium.
• I gave some hints and tips on how to try and access the best insurers and policies for you right from the start, so that the stress of getting insurance is hopefully eased for you.

Take a listen here!

The Value of Trusts – S7 Ep 5

Life insurance is arranged when someone is going to be financially worse off if you are no longer around. This could be due to paying off a mortgage, needing to pay for a funeral, right through to inheritance tax needs.

A way to make sure that the money from your life insurance goes to the person that it needs to, you can write your life insurance into Trust. This is a legal document that states “If I die I want this insurance to payout to ‘loved one'”.

By not putting your life insurance into Trust it can really delay how quickly your loved ones receive the policy, but more importantly, it means that the wrong people might get the payout.

Charlotte Rogers joins us to explain her incredibly impactful story of her partner’s life insurance not being placed into Trust. Unfortunately the worst happened and he passed away. The financial fallout from this was a complete shock to Charlotte and he uses her experience to shout from the rooftops about how important a Trust is.

You can listen to it here.

Remember, if you have listened to this as part of your work, you can claim a CPD certificate on the website, thanks to the podcasts sponsors Octo Members.

If you would like to know more about how to arrange protection insurance, take a look at Kathryn’s Protection Insurance in Practice course.

Related blogs and pages

Mental Health and Life Insurance Week

Mental Health and Life Insurance

Trusts