Life Insurance
Life Insurance is designed to provide a lump sum payout if you were to die.
You’ll be insured for an amount of your choosing over a period of your choosing, depending on your age and health. For example, a £100,000 policy lasting 25 years. You will pay a monthly premium to keep the cover in place and if you were to die within the term of the policy, the lump sum would be paid. This could be to your family to pay off your mortgage, or to cover things like a funeral or unpaid debts.
How much does Life Insurance cost?
Life Insurance premiums are affected by many factors. The insurer calculates the likelihood of a payout using these factors. The main ones are:
- Age
- Smoking and drinking
- Smoking and drinking
- Lifestyle
- Insured Amount
- Policy Length
Why is Life Insurance important?
Life insurance isn’t a legal requirement, but it could give your dependents financial stability when you die.
You may want to consider life insurance if:
- You have dependants or a partner who relies on your income
- You have a mortgage, credit card, loan or other debt
- You might want to cover funeral expenses, to ease the cost for your family
Life insurance is incredibly important if your partner or family would struggle to make ends meet if you were to pass away. Knowing how much your family would need is incredibly important to work out to know how much cover you may need.
Life insurance provides a lump sum upon the policy holders death, whereas Income Protection provides a regular tax-free income if a policyholder can’t work. Both products are incredibly important as they can provide financial support to your loved ones and family if something were to happen to you.
Cost
of Work
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Frequently Asked Questions!
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Sed rhoncus facilisis purus, at accumsan purus sagittis vitae. Nullam acelit at eros imperdiet pulvinar velut nisl. Pellentesque sit placerat neque amet sapien semper tempus. sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Sed rhoncus facilisis purus, at accumsan purus sagittis vitae. Nullam acelit at eros imperdiet pulvinar velut nisl. Pellentesque sit placerat neque amet sapien semper tempus. sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.