Life insurance is easier and more affordable than you think

Keeping on top of your finances can often feel like a full–time job in its own right; worrying not just about your own incomings and outgoings, but also whether the protection and policies you have are the most suitable for your needs.

Price comparison sites do a good job at helping people who know what they need to buy – but that’s a very small fraction of the population. The rest are left in the dark about what protection they need. It’s this perceived complexity that means it sits forever on our to–do lists – a rainy day job that never gets tackled or something to consider later in life.

Right at the heart of this category is life insurance. None of us like to think of worst–case scenarios or picture how we would cope financially after the loss of a loved one, but the uncomfortable nature of these discussions isn’t a reason to bury your head in the sand. 

It’s also important not to dismiss it out of hand due to existing misconceptions either – life insurance isn’t just for older people, it isn’t just for the wealthy and it needn’t be expensive either; certainly not compared to the peace of mind it can give you.

The way life insurance is currently sold in this country relies on a series of trigger points. The main milestones include buying a house (because your financial commitments significantly increase), becoming a parent (because you’ll have someone else dependant on you financially) and sometimes getting married (for similar reasons). While it makes sense that you won’t necessarily think about taking out cover until you strictly need it, part of the problem is just when people think it becomes necessary.

Take getting on the housing ladder for example. To obtain a home loan, your bank or building society will insist you take out buildings insurance in case anything untoward happens to your property. In other words, they are protecting their asset.

A very useful and lesser known product is income protection – especially self–employed people, who don’t have the support or insurance offered by some employers should they be unable to work for health reasons, are realising they have a need for it.

Give us a call today on 028 9332 2822 to discuss your options!