October is the month of scary movies, trick-or-treating, and haunted houses. But do you know what really frightens people? Talking about life insurance, serious illness cover, or income protection. These topics often get pushed to the bottom of the list, sitting somewhere between updating your will and switching utility providers. But the truth is, being prepared is not scary. It is smart.
If we are being honest, the most unsettling part of financial planning is not having the right protection in place when you need it. It is the unknowns. What if something happens to me? What if I cannot work? What happens to the people I care about?
Let’s start with life cover. Most people know they need it, especially if they have children, a mortgage, or someone who relies on them financially. But many still delay it. I understand why. It feels like something you will get around to eventually. But the earlier you act, the more affordable it usually is. Premiums tend to rise with age, and if health issues come up, it can become more complicated.
Life assurance is not about doom and gloom. It is about love. It is a way to protect the people you care about and make sure they are not left struggling if the worst were to happen.
It can help pay off a mortgage, cover funeral costs, or simply give your loved ones breathing space when everything else feels overwhelming. That financial support can be life-changing.
Next is income protection. Most of us rely on our income to cover everything from groceries and heating bills to childcare and car insurance. If you could not work because of illness or injury, how long would your savings realistically last? A few weeks? A couple of months? Income protection ensures you still have money coming in while you recover.
It is not a luxury. It is a lifeline. And it is more affordable than many people think. Income protection premiums are tax-deductible, which means the real cost to you could be lower than expected. Many people are surprised to learn how much cover they can get for a manageable monthly amount.
Think of it like a safety net. You hope you never need it, but you will be grateful for it if life takes an unexpected turn.
Serious illness cover is another option. It pays out a lump sum if you are diagnosed with a major illness like cancer, stroke, or heart disease. These illnesses are more common than we like to believe. The payout can help you cover medical expenses, take time off work, or simply reduce stress so you can focus on getting better.
For families, it also means one parent can take time off to care for a loved one without sacrificing income.
If you already insure your car and your house, ask yourself this – why not insure yourself? You are the one earning the income, managing the household, keeping everything running.
Protecting yourself means protecting your family and their future.
And you do not have to be earning a fortune or own a house to benefit from protection. Whether you are single, renting, or self-employed, your income still matters. You still have responsibilities. And you still deserve peace of mind.
It is also worth reviewing any cover you already have. Maybe your employer provides some protection. But do you know how much it covers? Would it be enough? And what happens if you leave that job? These are the kinds of questions that often get overlooked.
Taking time this month to look at your protection options could make all the difference. And if you are not sure where to start, that is exactly what financial advisers are here for. We help you understand your needs, explore your options, and create a plan that fits your life.
While we are on the topic of future planning, there is one more October deadline that is well worth your attention – your pension.
If you are self-employed or paying tax through PAYE and want to make a top-up contribution to your pension, the deadline to claim tax relief for 2025 is October 31. This is one of the most powerful and underused financial opportunities of the year.
It might not feel urgent, especially when day-to-day expenses are adding up, but your pension is not just about retirement. It is about freedom, control, and reducing your tax bill now while securing your future.
Even a small additional contribution can make a big difference. Whether it is €200 or €2,000, it all adds up. And since pension contributions qualify for tax relief, you are putting your money to work in the most efficient way possible.
Think of it as giving your future self a financial boost. The money you invest now could be the difference between just getting by and living comfortably in later life.
And you do not need to have everything figured out. If you are not sure how much to contribute or whether you qualify, a quick conversation with a financial adviser can help you make sense of your options.
This is your once-a-year window to make a real impact on your future. Miss it, and you are waiting another twelve months. If there is one grown-up financial task worth ticking off this month, this is it.
So while you are unpacking the costumes, planning the Halloween treats, and dodging jump- scares on Netflix, take a moment to think about the kind of protection that actually matters. Life cover, income protection, serious illness – and your pension.
None of these are frightening when you have the right guidance. And they could make all the difference when life takes an unexpected turn.
