WHAT IS LIFE INSURANCE?
Life insurance gives you peace of mind if the worst was to happen. It can help reduce the strain on the loved ones you leave behind. Your policy will cover their bills and money issues. We understand that money does not replace the person, but it will help you to know that they’re not struggling.
WHEN SHOULD YOU GET IT?
The thought of life insurance can be quite daunting. We often find that people choose life insurance after big milestones or life events, such as buying a home, getting married, having a baby or starting a job. However, we always suggest considering it while you’re young! You may find that when you’re young and healthy that the premiums are lower.
WHAT AFFECTS YOUR PREMIUMS?
There are many factors, these include:
Your age Your health The length of cover Whether you’re a smoker
Be sure to find the right policy for you!
WHAT DO YOU WANT TO LEAVE BEHIND?
There are two main types of policies:
Level-Term Insurance gives you cover on a fixed rate, for a fixed period. If you pass away during that period, the policy pays out a lump sum. Great to help loved ones continue a standard of living.
Decreasing cover insurance
Decreasing Cover Insurance specially designed for individuals whose financial commitments will reduce over time. For example, mortgage repayments will go down as you continue to pay it off.
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