Reasons why Life Insurance is so important
Do you have life insurance?
It is so important to have life insurance I really cannot stress it enough.
When I was in my 20’s I felt strong and invincible and illness and accidents hadn’t really touched my life of the life of those around me. I thought life insurance wasn’t a necessity. I am in my 40’s now and I have seen friends lose their jobs, struggle with illness, lose partners, become disabled and all manner of life events impact over the last 20 years. We were not so invincible after all.
Life insurance matters.
There are 3 issues I think new families really must consider in when it comes to insurance.
Think about the main earner
If something was to happen to my partner we would cope because I now DO have life insurance but do you know what…most people wouldn’t.
Recent research from Post Office Insurance has found that the average UK family could sustain their lifestyle for just 46 days if they lost their main income. Wow, just over 6 weeks. That’s not good is it?
Replacing the wages of the main earner should anything happen to them is a VERY GOOD REASON to have life insurance.
Think about the main carer
But what about the partner who stays home raising the kids if this is the case in your home.
Do they really need life insurance?
Well if you think about it carefully then of course they do.
Without them, the cost of childcare would soon rack up and that’s without even thinking about the value of all the domestic chores they do. Recent research into the value of stay at home mum puts her potential wages at £80k…wow ( I am sure this would be the same for a stay at home dad too!)
So – yes absolutely the death of a non-earning spouse can have a significant financial impact on a family.
I didn’t have life insurance whilst the kids were small as we really didn’t think through the consequences of something happening to me. I see now that was pretty reckless and I have heard countless stories of people regretting their lack of life insurance. Don’t let that be you. Earner or non-earner you are valuable.
Think about your home
And what about your home?
When you have kids (and at any time!) not losing your home is REALLY IMPORTANT. If you or your partner were to die or get sick would the other be able to keep up mortgage payments?
Term insurance or mortgage life insurance are designed to run for the length of a mortgage and bring such peace of mind to families and security if the worst were to happen.
So yes 3 really important areas to consider.
No one wants to think about dying or their partner dying, especially when a new family is blooming. But, to be honest…the timing has never been more important. That new little family needs protecting.
How to get the right insurance for you, and get a £75 M&S voucher for taking out life insurance today!
So how do you find the right life insurance for you?
The W1 Investment Group take all the stress out of applying for life insurance They have a team of friendly advisers who will talk you through the different types cover and get you various quotes from the UK’s leading Insurers. They guarantee to match the price comparison websites, and are fully regulated by the Financial Conduct Authority giving you peace of mind. Their service is simple and cost-effective, and they can get people insured with no paperwork within a week. That’s the kind of support and service you need!
We have negotiated a special offer for readers of my blog, if you take out life insurance with W1 Investment Group they will reward you with a £75 M&S Voucher, just mention you are a reader when you speak to them.
In order to get a no-obligation quote simply follow this link.