Nothing in this life is assured

  • 2nd June 2020

We recently read an article on Linkedin written by a retired life assurance salesperson. It made us stop and think about the current situation we all find ourselves in.

Paul Joslyn, retired life assurance salesperson

In these worrying times I remember a situation when selling Life Assurance back in the 70s which makes me very aware of our mortality.

I was living next to Pinewood Studios in Buckinghamshire and one of my friends who worked there asked me if I would help set up some life assurance cover for his colleague.

I called and saw this guy who was only 26 and asked him why he wanted to take out cover. He said his dad had died at the same age as him and he saw the way his mum had to struggle bring him up as a small boy and wanted to make sure his wife and children didn’t suffer the same way financially.

He was in excellent health and played squash at a high level so I arranged a package of life assurance to cover his mortgage, a capital sum and income protection all written under trust for the benefit of his wife.

He was so happy and I never thought any more about it until 6 months later. I had a call from his brother saying that he had died playing squash in High Wycombe of a heart attack (the same which killed his dad).

I was shocked but the company Life Assurance paid out immediately (as under trust so no probate needed).
I say this as not only old people die. I was proud to be a life assurance salesman.

It is times like these that we start to think about our lives and what would happen to our families should anything happen to us. The ramifications for family members of not having the right protection in place do not bear thinking about. Many of us live in a state of bliss. We have secure jobs, a house, a family, everything is just fine. But things can change on the toss of a coin.

If there is one thing that we would recommend, that is review your family protection. The most important thing is to put you and your family first. It is critical to ensure you have the right policies, set up correctly in trust, or another such appropriate vehicle to ensure your family is fully protected should the unexpected happen.

Read our latest guide to Life Protection Insurance.

Any news or resources within this section should not be relied upon with regards to figures or data referred to as legislative and policy changes may have occurred.

Information contained within this article is not a personal recommendation of Forrester Boyd Wealth Management. The wording in this article is not to be construed as an offer or advice. We recommend you seek advice concerning suitability from your investment adviser.