Today, we continue to work our way through the UK Personal Finance Flowchart, using that as a guide to create our Finance Operating System. And specifically today we’re going to be talking about completing our wealth foundation with insurance. This is such an important subject because there is simply no point building for the future without putting measures in place to make sure that our financial plans are not completely derailed if the future doesn’t wind up like we expect.

Season 25 – Finance OS

1. Introduction
2. Budgeting
3. Emergency fund
4. Pension enrolment
5. Paying off expensive debts
6. Completing the foundation of insurance
   
   Everything You Need To KNOW
   • The Three Main Risks.
     1. Dying too soon
     2. Being diagnosed with a critical illness but surviving
     3. Being unable to work for the long term
   • What it boils down to
   • Insurance Principles
     • Life Cover
     • Critical Illness Cover
     • Income Protection Insurance

   Everything You Need To DO

   • Quantify the risk.
   • Establish what cover you have already.
   • Fill any gaps.
   • Order of priority
     • If single:
       1. Income protection
       2. Life cover for any debts, unless equity covers them
       3. Critical illness
     • If in a couple:
       1. Life cover for any debts
       2. Income protection
       3. Extended life cover
       4. Critical illness
     • With children:
       1. Life cover for any debts
       2. Extended life cover
       3. Income protection
       4. Critical illness
   • Call LifeSearch
   • Get the details right.
7. Goals – Part 1
8. Goals – Part 2
9. Approaching retirement
10. At retirement
11. Retirement early years – The danger zone
12. Retirement reviews
13. Later life
14. Question and answer session

At the end of the season we’d like to tie things off with a Q&A session, answering the key questions that you ask throughout. hello@meaningfulmoney.tv SUBJECT LINE: Season 25 Question or similar. We’ll sort them and try to answer as many as we can, but likely we’ll pull out themes and deal with them. If the outline we’ve gone over today raises any questions, get them in now – we can also answer them as we go along. If we get tons of Qs we can always do two Q&A sessions.

---