Life Insurance

Ensuring your family is protected

Life insurance allows you to make sure your family is protected in the event of your death, during the policy term. You choose the amount of cover you need and the length of time you want to be insured for.

Why do you need it?
The loss of a spouse or parent can leave dependants with additional issues to cope with other than the emotional. If you are underinsured or maybe even uninsured, your loved ones may be left with a dramatically reduced household income, which could negatively affect their quality of life at the worst possible time. Potentially there may be reduced opportunities for children such as the ability to pay for a university education or difficulties in maintaining mortgage payments on a reduced income.

In the event of your death, a lending institution bank or mortgage company will not just write off your debt. Rather, they will continue to pursue the debt through your dependants and could, ultimately, foreclose on the loan meaning the potential for loss of the family home.

What will the Government provide?
The main benefits the government may provide are the Widowed Parent’s Allowance and Child Benefit. Depending on whether the widow(er) qualifies for Income Support, the government may or may not help with paying the mortgage interest.

The method for calculating which benefits an individual may qualify for is extremely complicated. More information is available on the Department of Work and Pensions website.

Our clients put their faith in us to ensure that should the worst happen their loved ones are not made to suffer any more by worrying about finances and a place to live. A FREE, initial, consultation with one of our dedicated advisors will give you the advice that you need both now and for your future financial plans. It may be the most important call you make.