If you have a family, other dependants or significant debt then you should consider getting some life insurance. One way to think about the need for life insurance is to ask yourself, if you were to die early what would be the financial impact on your loved ones?
Life insurance provides you and your family with financial certainty and support in a time of need.
Life insurance cover typically means you will receive a one-off payment on your death or if you are diagnosed as being terminally ill, which can help your family continue to live the life you’ve planned together.
This can provide some peace of mind, knowing that:
- your dependants can focus on living life without worrying about finances.
- typically, your family can get quick access to immediate funds to cover funeral costs.
- they can stay in the family home – pay the mortgage or cover the rent.
- children are provided for and can make future education plans, such as going to university.
- the financial burden of on-going day-to-day living expenses is taken care of.