The Importance of Life Insurance

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Life insurance can often be one of those persistent items on a to-do list; you know it’s something you should look into but it never seems urgent enough to action today. In this article I discuss what life insurance is, why it is so important and some things you need to consider.

With today’s economic uncertainties, life insurance is even more important, particularly when one is supporting a family. Funerals are expensive and getting the right life insurance policy for your family can remove the financial stress during an already difficult time. Life insurance will help you manage the financial obligations of the funeral and give your family some additional financial support in the event of your death.

Not only having life insurance but also having the right insurance is vital. There are a variety of life insurance options available and the policies, structure and costs differ depending on the requirements, age and health of the insured.

Similar to comparing home loans, life insurance requires extensive research to compare the many available options to ensure you get the right policy for your family’s needs. There are two general types of life insurance; term or whole. Whole insurance policies are used to plan for retirement and prepare for final expenses well in advance whilst term life insurance is a more affordable option, providing coverage at a fixed rate of payments over a limited period of time. Once you have selected an affordable insurance policy suitable to your needs, you can also review the available extras that are important to you.

Is this time consuming research why you have put it off in the past? Thankfully, I can assist you with finding a suitable, or reviewing your current, life insurance policy. Contact me today to arrange a free appointment to discuss your options. It feels really good to tick something so important of your list.

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