Naturally, we all want to do the best for our families, and keep them properly protected on every occasion. In simple terms, life insurance provides a tax-free lump sum on death.
If you need convincing that life insurance is a good product to buy, ask yourself this question. If you were to die, how much money would your family have to live on? Many families would find themselves running short of money very quickly. Your salary would stop, but the household bills and mortgage repayments would still need to be paid.
A payout from a policy could make the difference between your loved ones facing a financial struggle at a challenging and emotional period in their lives, and being able to maintain the sort of lifestyle they enjoyed when you were still around.
Most people tailor their policy to ensure that their financial commitments would be met in the event of their death, so policies are often aligned with the term of a mortgage or other loan.
Life insurance isn’t the only form of protection policy you can take out. Here are some other policy types that families with mortgages often consider.
Protecting your family and your home is against significant life events, such a serious or critical illness or death is an important part of anyone's financial planning.
The Money Bee is able to advise on various protection policies and varying levels of cover. Our team of protection specialists will first understand your requirements before researching the market for the most suitable solution.
You will find more information below, but we would encourage you to contact our friendly team to discuss your requirements.