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5 REASONS TO HAVE LIFE INSURANCE

5 REASONS TO HAVE LIFE INSURANCE

As we grow older our priorities change. We no longer spend our precious time on irrelevant things and we focus our energy on those who matter most in our lives.

 

This is why it’s important to establish a financial plan and secure necessary Life Insurance cover for you and your family.

 

Benefits to Life Insurance

 

Here at Financial Foresight we know how vital financial protection is for the family unit.

 

Below we have highlighted five reasons why you should consider life insurance cover should the unfortunate happen:

 

1.    Reduce Inheritance Tax

When you pass away, Inheritance tax is applied to your assets over £325,000, which includes your family home. With the help of Life Insurance, you can provide your beneficiaries with a cash free lump sum which they can use to pay the Inheritance Tax.

 

2.    Income Security

If your household is reliant on your monthly income to support the monthly bills and daily expenses, then Life Insurance is necessary. Chat to Financial Foresight today to learn how you can best provide for your family in the event of your death. 

 

 

3.    One Less Thing to Think About

Funeral arrangements and burial costs can quickly add up and tend to be rather expensive. By having Life Insurance in place your family can benefit from financial security during a time of emotional stress.

 

4.    Pay off Debts

In addition to offering your family a source of income, Life Insurance can help pay off any outstanding debt you may have. For example, if you have taken out a mortgage, your insurance policy will help cover the mortgage repayments so your family doesn’t have to move out. 

 

5.    Children’s Expenses

Like most parents, the thought of not being there to watch them grow up is heart–breaking. However, you can provide financial security for their future by having a plan. With the help of savings, a legal will, and education planning, you can still provide for your children even when you’re not around.

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Financial Foresight

Preparing for death is an uneasy thought but it is crucial. It is important to discuss your options and provide the vital support to your family when they need it most. Give us a call today on 028 9332 2822.

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