Most people accept that none of us live forever. There are only two certainties in life and they are death and taxes. Only the financially reckless would leave their partner and family facing hardship in the event of their death. As a bear minimum any loans secured against property should be covered so that your loved ones can continue to rebuild their lives if the worst happens to you.
However beyond mortgages and loans life cover is a very cheap way of making sure that your family or business can face the future with a degree of financial security. Some people worry that their dependents might use the lump sum rashly, in which case the benefit can be paid out as an income over a given number of years instead of one lump sum.
Life cover can be for a given time frame, which is called “Term Insurance”, or for ever which is called “Whole of Life” again the cost reflects the risk of a claim.
Accident, Major Illnesses and death introduce the unexpected situations that can wreck your financial planning.
A firm foundation is essential to make sure that your family, your firm and importantly yourself are protected if the worst was to happen to you.
If you require a quote for life assurance or critical illness protection please click here.