Making Money Explained: Life insurance, income protection & critical illness
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Sep 9, 2024 
Naomi Greatorex, Managing Director of Heath Protection, dives into the essential world of insurance. She discusses the often-ignored significance of various insurance types and shares shocking personal risk statistics that highlight the unpredictable nature of life. Naomi clarifies the differences between critical illness insurance and income protection, while also emphasizing the importance of honesty in health disclosures. She encourages listeners, especially new parents, to reassess their coverage and explore the advantages of using brokers for better deals.
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Prioritizing Pet Insurance
- Pet insurance is surprisingly more popular than life insurance in the UK.
- People prioritize insuring their pets over themselves, highlighting a disconnect in perceived risk.
Will's Wake-Up Call
- Will Stollerman shares a personal story of being assaulted and realizing the unexpected nature of life-altering events.
- This experience prompted him to get insured, highlighting how unforeseen circumstances can change perspectives on risk.
Likelihood of Illness
- There's a 1 in 4 chance of suffering a critical illness or an illness preventing work before 65.
- Naomi Greatorex emphasizes the statistical likelihood of these events, urging listeners to consider the potential impact.