There is an understandable focus in the world of financial planning on the process of wealth creation, wealth management and wealth transfer.
But arguably, not enough attention is being paid to the risks of a client's financial plan being blown off course, in particular due to critical illness or death.
In this video, Tony Wickenden looks at carrying out a 'catastrophe risk assessment', that is, what would happen if a client could no longer contribute to their financial plan.
What would the implications be for them and their family, and what do they need to do to bridge the gap between the current position and the ideal one?
Tony discusses the role critical illness insurance and life cover has to play, and why it's worth building in this kind of risk assessment as part of your financial planning process.
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