What are the key benefits of life insurance?
Below are some of the main reasons people tend to take a life insurance policy:
- Financial protection for your family, helping to secure their future even if you have limited savings.
- A cash sum to cover ongoing living expenses such as mortgage, rent, or childcare.
- Easing the burden and reducing stress for your loved ones after your passing.
- Providing continuity for your family, allowing them to remain in their home.
- Mitigating the impact of a lack of savings.
- Can be a lending conditions if you need a mortgage to buy a house.
What is life insurance?
A life insurance policy offers a cash lump sum if you die while covered by the policy. But what are the advantages?
- Life Insurance can be cheaper than a policy that covers the whole of a life. .
- The amount you pay each month and the cash sum stay the same, unless you make any changes, making it easy to budget for.
- The payout can help with ongoing costs like childcare, school fees, unpaid bills and repaying any debts or mortgage.
There are a wide variety of different life insurance options that can be tailored to your circumstances. This can range from a term assurance policy to cover a set period of time to a whole of life policy to cover any potential inheritance tax. Get in touch to find out more.
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