For most, the steam train of being over worked, stressed and exhausted has come to a halt over the
last few months. People are finding more time to enjoy the little things in life such as baking with
children or building raised planters for the herbs you never had time to grow. Everyone’s garden is
pruned to an inch of its life and daily walks become a highlight.
Most of all you are spending well deserved time with the family. When will you ever get to spend
this much time with them again? We are appreciating our family and all our little quirks now more
than ever. So, should you be protecting them?
The question you need to ask is: ‘Would my family be able to cover the mortgage or bills should
anything happen to me or my income?’If the answer is yes, then you probably don’t need life insurance or critical illness. If the answer is no,
then you should be looking for cover. Like all insurances, it’s not something you want to use but
should the worst happen, your family are covered.
There a many types of life insurance which can either pay out a lump sum or regular payments
should you die. The amount of money paid out depends on the level of cover you buy. You could
decide just to cover the mortgage or whether to cover other specific payments.
I am a financial advisor who can offer the whole of market research in finding the best life insurance
deals for you and your circumstances. Being whole of market means I am not tied to a specific
product or provider, allowing me to search and compare the right deal for you. Our company,
Prosperitas Wealth Planning, offers full holistic advice.
Life insurance only covers death and normally comes hand in hand with critical illness cover. An
insurance which will pay out on diagnosis of a stated critical illness. There are a lot of other
additional insurances so it’s worth a free initial discussion to pinpoint your exact needs.
TOP TIP: You may already be covered by your existing employer. If you have a ‘death in service’
package, you will normally be covered for a multiple of your salary. It would be up to you to assess if
this cover is substantial enough or whether you may need additional insurance to top up. It’s
something to look into before researching life insurance, as there is no point paying for the same
insurance twice – they will only pay out the once! Bear in mind, if you stop working for that
employer you will not be covered under that policy anymore.