Cryptocurrency and bitcoin security has always been a fickle thing in terms of insurance. With more than 7% of Americans owning cryptocurrency, the demand for this relatively secure asset is still on the rise. As the global interest in cryptocurrency increases, governments are also looking at the asset closely now.
Taking the current financial situation into account, there is no telling when your investment portfolio may improve or face a downfall similar to that of the 2008 recession. Today, when it comes to legacy and financial planning, wealth preservation is at the top of any financial advisor’s list, telling clients to manage their assets and ‘brace for impact’.
There has been a 143% week-on-week increase in the number of wills since the lockdown started, a figure that is predicted to go up to 220% soon. Before 2019, people believed that legacy planning and creating a will was only for the rich; but that trend is changing. It is now understood that anyone wanting to secure their assets and protect their family needs to have a will.
The COVID-19 pandemic has had deep impacts on every element of our daily lives – our insurance policies and legacy planning being no exception. Many people, be it businessmen or families, have been forced to consider ‘what ifs’ that were previously a non-issue.