Life Insurance

Give yourself peace of mind and protect the people you love today.

 

What is life insurance?

Life insurance is a type of insurance policy that protects your family’s financial future in the unfortunate circumstance that you pass away. If you have loved ones who depend on you financially, life insurance can give you peace of mind that they will be taken care of.

Life insurance is particularly important to consider if you are a parent, a homeowner, or responsible for anyone else’s financial security. It is an excellent way to protect your family’s finances and to ensure that any financial commitments you may have including your mortgage, childcare costs, or funeral expenses are taken care of.

 

How does life insurance work? 

Life insurance is a simple way of providing financial support when you’re no longer around. Typically, you choose how much cover you need and how long you need it for. Then, if you pass away or are diagnosed with a terminal illness, your loved ones receive either a cash sum or regular monthly income to help with their everyday living expenses, including their mortgage and childcare costs, depending on the policy.

There are various types of life insurance policies available on the market today, each designed to suit different needs, including level-term life insurance, decreasing term life insurance, the whole of life insurance, joint life insurance, and over-50s life insurance plans. Typically, you can choose to pay monthly or annual premiums and to take out the policy in joint or single names.

Which life insurance is right for you will vary depending on your personal circumstances, including how much is left to pay on your mortgage, how much childcare and maintenance costs you pay, and how much you can afford.

You don’t need to do a medical exam before you take our life insurance, but you must disclose any medical conditions as part of your application. Your premiums are normally based on various factors, including your age, employment status, and whether you smoke.

 

Do I need life insurance?

Although life insurance is by no means a requirement, many people choose to have life insurance as a way to protect their loved ones from financial hardship after they pass away. Life insurance provides your family with a financial safety net and relieves them of the burden of worrying about money during one of the most difficult times in their lives.

Life insurance can be particularly crucial if you have a mortgage and are the sole provider in your family. It can also help to protect against any loss of income if you were to become critically ill and unable to work. Indeed, life insurance is one of the cheapest ways to protect your loved ones’ finances if the worst happens.

If you are interested in acquiring life insurance or are still unsure if it is necessary for you and your family, please contact us today to speak to an advisor and discuss your requirements.

Alternatively, you may be interested in Critical Illness Insurance or Income Protection Insurance.

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