As the old saying goes, life insurance is for the people you leave behind. It’s the difference between being able to focus on coping with a bereavement and having to deal with the hard, financial realities of life (and death) at a time which is already stressful. It can be the difference between the people you love being able to stay in their house or having to sell it to pay bills and it may be a requirement for certain financial products, such as mortgages.
Here are some fast facts about it;
1 At current time life insurance can be taken out by people aged between 18 and 75.
2 Life insurance comes in two main times, term assurance and whole-life cover. Term assurance covers you for a specific period (e.g. the length of a mortgage). If you are still alive at the end of that time, then the policy simply expires (without a payout). Whole-life cover continues indefinitely and hence will pay out at some point.
3 Health and age are the key criteria for judging premiums. Gender has ceased to be a factor. Young people, sadly, can and do die, so anyone with any kind of dependent, be it elderly parents or young children, should probably have some form of life cover.
4 As your life changes, so your life insurance needs will probably change with it. You may be able to reduce your level of cover (and therefore premiums) as you pay off a mortgage, but you may need to increase it when children come along.
5 Anyone who owns their home should be aware that having life insurance can be a very useful way to pay off an IHT bill on an estate without the upheaval of selling the property.
Contact Appletree finance to arrange a telephone quote on 01253 886600 or email for more information firstname.lastname@example.org , what have you got to lose?