Life Insurance
Nobody wants to think about the worst happening, but death is a fact of life and it’s a good idea to have a plan in place to protect your loved ones financially in the event of your death.
If you die prematurely this could have serious implications for your family; it could mean a significant and sudden reduction in their financial wellbeing as:
- Your earned income will stop.
- Loans may become repayable.
- Inheritance Tax could arise for your dependants, depending on what and how much they inherit from you.
While social welfare benefits payable on your death, such as the widows/widowers/ surviving civil partner’s pension may replace part of your earned income, the benefits they provide are low and are designed to cover only the basic necessities of life.
By taking out a life insurance policy you can ensure that in the case of your premature death, your family will be on a firm financial footing.
See our Life Insurance Guide below for further information.
