Personal risk management

Everyone exposes themselves to some level of risk - its part of everyday life.  Whether it is crossing the road, starting a business, taking a new job or even getting married, every day, we constantly assess which risks are worth taking and which are not; and where we take risk we assess the best way to deal with any consequences.

Sometimes we simply accept the risk and get on with it, sometimes we avoid the risk all together; sometimes its sensible to see if we can realistically share the risk or even get someone else to take on all or some of the risk.  The important thing is to understand that there is a risk and consider what might happen if we don't deal with it in some way.

Risks in our financial life are no different to other risks we are exposed to.  The consequences of not managing them can be very serious and long lasting, they can also have a profound affect on others we care about.  We hope that catastrophe will strike someone else. Sadly ‘someone else’ may be you.

We have prepared a short video which will help you test your risk management capacity and work through available options.  

It is critical that you regularly review your insurances and other risk mitigation strategies, and ensure they still meet your needs. Can you cope with the risk you have taken on.  Are your insurances inadequate or have you got too much cover?  If circumstances have changed, have you adjusted your cover?

As you will see from our YouTube video, insurance - whether for your car, home or life and income - is not the only option, and certainly cannot cover all possibilities.  However as part of an overall risk management plan, when set up properly, it can help minimise the disruption to your life and the lives of those close to you, caused by unexpected events.

Contact us today to review your existing insurance and risk mitigation strategies.

Please note that we are only able to provide general advice and guidance in relation to general insurance products such as health, motor vehicle and home contents insurance - we are not licenced to provide advice in relation to specific general insurers or general insurance products.  We are able to provide specific advice on life insurance products.  For a basic explanation of the differences between life and general insurance click here.

If you would like more information on the different types of life insurance and the sorts of situations and events they cover visit the Lifewise Website which as a lot of information on insurance and includes a basic insurance needs calculator.  Have a look at the calculator and the other information on this site and when you are ready contact us to review your existing insurance and risk mitigation strategies.