Life Insurance simply explained
For lots of us, life insurance is an important way of helping protect the people we love – so they can maintain their lifestyle should you no longer be around. So when looking to buy life insurance, just ask yourself 3 simple questions.
What do I need to protect?
You may have a spouse or children, and a mortgage or other outstanding loans – or even a combination of all of these. There are different types of life insurance depending upon your needs – so it’s important you get all the facts before you get a quote.
How much cover do I need?
If you have a mortgage, how much is outstanding? And how much would your family need to maintain their lifestyle without you there to provide for them?
Take into account your income and outgoings, such as your mortgage payments and utility bills. Think about childcare costs and perhaps the odd holiday. Also what your family might want in the future, possibly university fees or even a deposit for a first home. The amount of cover you need is up to you, but you’ll be surprised how it all adds up.
How long do I need life cover for?
Think about how long’s left on your mortgage, how long your children will be financially dependent on you, and how old your partner will be when they’re likely to retire. This will help you decide how long you want your life cover to last.
Critical Illness cover simply explained
It’s easy to think ‘I’d cope, that’ll never happen to me’. But any of us could become ill and a critical illness policy may help to give you some financial security at a difficult time.
It’ll never happen to me
Most people believe that critical illness will never happen to them, but most of us know someone either directly or through friends and family that has been affected.
I’m too young
No one wants to think they’ll be struck down with a critical illness, but it can affect anyone, at any age.
It’s too expensive
Critical Illness cover doesn’t have to be unaffordable. You can choose the amount of cover to fit your budget. In the end, it’s up to you to decide how much cover you need and for how long.
If you should ever need to make a claim, the money you may receive could help make life easier for you and your family, which will mean you can just concentrate on getting better.
So if you feel that critical illness cover could give you and your family a little extra peace of mind, get in touch today for a quote.