What Is Life Insurance?
Can your loved ones manage financially if you die?
You might have a partner, children, or other loved ones who rely on you financially, or a mortgage to pay off. A life insurance policy gives you the security of knowing that your loved ones will be able to deal with everyday money concerns such as household bills, childcare costs and mortgage payments if something happens to you.
The cover pay out a lump sum or a regular income if you die during the term of the plan, hence it can be a crucial safety net for families.
You can choose whether to pay your life insurance monthly or annually and your premiums won’t go up unless you alter your policy, so you’ll always know how much you’re paying.
These decisions aren’t always straightforward, which is why we’re here to help.
Things to remember ...
It's important to choose a premium that you can afford now and in the future.
The cost of a policy is determined by a number of factors including your age, health and lifestyle.
Life insurance tends to be cheaper the earlier in life you take out a policy.
The length of time you need your life insurance policy to cover depends on how much money you think you might need at different stages in your life.
You can choose the amount of cover you need and how long you need it for
Your cover amount will remain the same unless you make any changes.
Life insurance is a crucial part of financial planning for anyone who has dependants.
The cost will vary depending on factors such as your age, health, occupation, and whether you smoke.
Life insurance can be paid monthly or annually and your premiums won’t go up unless you alter your policy.