Life Assurance
Getting the right life assurance policy means working out how much money you need to protect your dependants. This sum must take into account their living costs, as well as any outstanding debts such as a mortgage.
It may be the case that not everyone needs life assurance, but if your spouse and children, partner, or other relatives depend on your income to cover the mortgage or other living expenses, then the answer is ‘yes’.
Protect the people closest to you
Life assurance makes sure they’re taken care of financially if you die. So whether you’re looking to provide a financial safety net for your loved ones, moving house or a first-time buyer looking to arrange your mortgage life insurance – or simply wanting to add some cover to what you’ve already got – you’ll want to make sure you choose the right type of cover.
That’s why obtaining the right advice and knowing which products to choose – including the most suitable sum assured, premium, terms and payment provisions – is essential.
What level of life assurance will I need?
The appropriate level of life assurance will enable your dependants to cope financially in the event of your premature death. When you take out life assurance, you set the amount you want the policy to pay out should you die – this is called the ‘sum assured’.
Even if you consider that currently you have sufficient life assurance, you’ll probably need more later on if your circumstances change. If you don’t update your policy as key events happen throughout your life, you may risk being seriously under-insured.
As you reach different stages in your life, the need for protection will inevitably change.
How much life assurance you need really depends on your circumstances, for example, whether you’ve got a mortgage, you’re single or you have children. Before you compare life assurance, it’s worth bearing in mind that the amount of cover you need will very much depend on your own personal circumstances, such as the needs of your family and dependants.
ASK FOR A NO-OBLIGATION CONSULTATION
There is no one-size-fits-all solution, and the amount of cover – as well as how long it lasts for – will vary from person to person. Contact us today on 02380 420 606 to find out more and arrange a no-obligation consultation.
First class service received from Dave Robertson and team, who oversaw the smooth transfer of my funds and provide ongoing support and advice, with a personal and highly professional service.
Mr S GOMM