When most people think about financial planning, their minds go straight to mortgages, savings, or pensions. But there’s another area that often gets overlooked - protection.
Protection is about safeguarding your family, your income, and your home against the unexpected. It’s about having the right safety net in place so that, if life takes an unexpected turn, your finances don’t fall apart.
At Calluna Financial, we know that your mortgage is one of the biggest financial commitments you’ll ever make. But without protection, it can also become one of the biggest risks. That’s why we believe life insurance, critical illness cover, income protection, family income benefit, and private medical insurance are just as important as arranging the mortgage itself.
What Does “Protection” Actually Mean?
Protection is the umbrella term for policies designed to shield you and your loved ones from financial hardship if the worst happens. Whether it’s the loss of income through illness, the death of a loved one, or the cost of unexpected private healthcare, protection ensures that you and your family won’t have to struggle.
The five core types of protection are:
- Life Insurance – pays a lump sum if you pass away.
- Critical Illness Cover – pays out if you’re diagnosed with a serious illness.
- Income Protection – replaces your salary if you can’t work due to illness or injury.
- Family Income Benefit – provides a regular monthly income to your family if you die during the policy term.
- Private Medical Insurance (PMI) – gives you access to quicker healthcare and specialist treatments.
Life Insurance – Protecting Your Loved Ones
Life insurance is the foundation of protection. It ensures that your family is financially secure if you’re no longer here to provide for them. For homeowners, life insurance can also mean your mortgage is cleared so your family doesn’t lose the roof over their heads.
Critical Illness Cover – Planning for the Unexpected
A serious illness can change everything overnight. Critical illness cover pays a tax-free lump sum if you’re diagnosed with conditions such as cancer, stroke, or heart disease. That money can be used to cover the mortgage, pay medical bills, or simply give you time to recover without worrying about income.
Income Protection – Replacing Your Salary
For most of us, our ability to earn an income is our biggest financial asset. Income protection ensures that, if you’re unable to work due to illness or injury, you’ll still have a monthly income to cover essential outgoings - mortgage, bills, food, and more.
Family Income Benefit – Income for Those Left Behind
Instead of paying out a lump sum, family income benefit provides a regular monthly income to your loved ones if you die during the policy term. For families with young children, this can be a lifeline, giving stability and consistency in a time of upheaval.
Private Medical Insurance – Faster Access to Care
With NHS waiting lists under pressure, private medical insurance offers peace of mind that you’ll get access to faster treatment when you need it. It also gives you more choice in hospitals and specialists.
Why Protection Is Just as Important as Your Mortgage
A mortgage is a huge commitment, and without protection, you’re effectively gambling that nothing will go wrong. Protection ensures your mortgage is affordable and sustainable no matter what life throws at you. At Calluna, we make sure that when we help you secure a mortgage, we also help you protect it.
Busting Common Myths About Protection
- “It’s too expensive" – Protection can be surprisingly affordable, especially when tailored to your budget.
- “I’m young and healthy, I don’t need it yet” – The younger and healthier you are, the cheaper cover is.
- “Work provides cover” – Many workplace schemes are limited and may not give you the level of protection you need.
Why Calluna?
At Calluna Financial, we’re local, approachable, and committed to doing the hard work for you. We’re not tied to one insurer, which means we can compare a wide range of providers to find a plan that works for you and your family.
Protection is about peace of mind. It’s about knowing that no matter what happens, your loved ones are safe, your mortgage is covered, and your future is secure.
Take action today. Book a free consultation with Calluna Financial and let us build the right protection plan for you and your family.
