You may have heard people discussing life insurance; especially if you have recently got married, purchased a house or had a child. You might ask yourself the question ”Why should I get life insurance?”. Continue reading to find out why life insurance is an integral part of the safety net for your family, should you pass away.
Life insurance provides financial security for your loved ones, in the event of your death. If you have people that depend upon you financially, ensuring you have adequate life insurance is one of the most important financial decisions you can make. Life insurance can offer you the peace of mind that your loved ones will not suffer financially if you were to die.
Life insurance is particularly important if you have one or more of the following:
- Dependent children
- A mortgage
- Unpaid debts
- A partner or spouse
By purchasing a life insurance policy you are providing financial relief for your loved ones left behind in the event of your death. It is a decision you can make today to protect your family in the future.
What does life insurance provide for?
A life insurance policy may be used for the following:
- Covering your funeral costs
- Paying off your outstanding mortgage
- Paying off bills and/or credit card debt
- Ongoing living expenses of those left behind
- Paying your childrens’ school fees
- Providing for your partner’s or spouse’s retirement
Another question you may ask yourself is How much life insurance do I need? Our blog post can help with this, outlining the areas you need to consider when thinking about your level of cover.
It is important that you discuss your needs with an experienced provider, to ensure you get the correct level of cover and to avoid overpaying. At lifestyle solutions we understand that everyone has unique circumstances, we can offer you advice relating to the cover you may need and can tailor a product to suit your individual requirements. If you’d like to discuss options for life insurance to suit the needs of you and your family, or review your current policy please contact us for quality, customised lifestyle solutions.
