Life Insurance

Life Insurance

As part of our free suitability check, we advise how much life insurance our clients require to protect property, payment of bills and secure their children’s future.

We can arrange a trust for your property until your child becomes an adult and also provide a monthly income to the carers, for the cost of bringing up your children.

 

What is the likelihood?

In reality it can happen to anyone at anytime. The Office of National Statistics report: 

500,000 people die in the UK each year and

17% of people die before age 65.

What is the impact?

The impact will depend on your circumstance and you can visit our protection menu tab for further information.

The value of a parent

According to research by Legal and General:

£31,627 is the value of the domestic work a mother does each year compared to £23,971 for a father.

Parents said they spend three times more on pocket money and treats each week than they do on insurance.

Half of men have life insurance and just under 2/3 of women have never taken life cover, (Onepoll, Friends Life, September 2013).

31% have a Will – For further information please visit Wills page.

Did you know? Fathers think mothers spend 20 hours a week looking after children, it’s more likely to be 70 hours.(Moneysupermarket.com).

If no one depends on you for money then you have no need to take out life insurance. However, you do need to consider how you would cope financially if illness strikes. If you only have your own wages to rely on, please read the pages on Income Protection & Critical Illness Cover.  If you have joint commitments the question to ask yourself is, ”Would I/my partner have enough money to pay all our bills if I/my partner died?”   If you are a parent or guardian raising dependents the question to ask yourself is, “How would our family cope financially if they lost their mother or father?”

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