Broker says clients still underestimate the cost of keeping a household running when illness or death removes an income
For many borrowers, protection remains framed as a single task: ensuring the mortgage is repaid if something goes wrong. One brokers says that approach can leave households exposed to the wider costs of daily life, even after the loan has been cleared.
“In my experience, many clients initially view protection planning as simply ‘covering the mortgage’,” said Chetan Jethwa (pictured top), managing director at Vistaara Financial Solutions. “Once the loan is repaid, they often assume the financial risk disappears.”
Jethwa believes the assumption often rests on misplaced confidence that support will be sufficient from elsewhere, whether the state, family, or an employer. The shortfall tends to become more obvious when advisers move away from broad estimates and scrutinise actual spending with clients.
