Life Insurance
We can help you protect your family if the unthinkable of death was to occur.
What Is Life Insurance
Life insurance aims to provide a lump sum payment to your family in the event of the death of the life insured.
How Much Do I Need?
The amount of cover you need varies from person to person, as everyone’s situation is different, we can help you tailor your cover to suit your individual needs.
When you need to start considering the amount of cover you require a good starting point is to work out the values of all your current liabilities and use this as a minimum starting point.
To determine the real amount of cover you will need, you should take into consideration, possible education expenses for children, funeral expenses, home mortgage, and any other major expenses that may arise, as well as allowing enough extra funds to allow your beneficiary to create an income stream or seek outside help if needed. This last point is very important as it can become difficult for your loved ones to continue to life their normal lives if they’ve potentially lost their main income stream.
How Much Does Life Insurance Cost?
It is impossible to gauge exactly how much life insurance will cost you as
there are many variables that effect the premium.
The main items that effect your premium are;
- Age
- Gender
- Smoker
- The amount of cover
- Health
- Occupation
Why Do I Need Life Insurance?
Ask yourself this, if you were to die tomorrow would your family be able to cope financially? Taking to consideration a mortgage, car loan and any dependents you may have.
If you were to die, your beneficiaries/estate would recieve a lump sum payment to help;
- Payout any debts you may have
- Pay for Funeral Expenses
- Pay for child care or home help if needed
- Provide a reserve to generate an income stream to aid the remaining spouse if she is unable to work.