| The responsibility of bringing a new life in the world | | | | increase as you age. Worse yet, if you develop a |
| often prompts us to take a long hard look at our | | | | medical condition later in life, you may end up with |
| financial situations-how well would your family cope | | | | soaring premium costs, or even be uninsurable. You |
| with the financial side of life if your income was lost for | | | | never know what might happen tomorrow, or next |
| some reason? If you die or become disabled or | | | | year, or in ten years time, and life insurance is all about |
| critically ill, will the loss of income be financially as well | | | | protecting you and your family against anything that life |
| as emotionally devastating? Whilst this is unpleasant to | | | | throws at you. |
| consider, they're truths that have to be faced and | | | | Getting good life protection is important even if one |
| there's no better time to start making financial plans | | | | spouse is not earning an income. A full-time parent is |
| than with the birth of your first child. | | | | worth nearly £25,000 per year in terms of the |
| Why Do You Need Life Cover? | | | | work they do in the home, and that's a lot of money |
| Life cover is designed to provide financial protection | | | | that must be found if that parent is suddenly unable to |
| for your family if you should die or, with some policies, | | | | care for the children. Child-rearing is expensive, and |
| for you too if you are diagnosed with a terminal illness. | | | | that's true even if you don't need to employ a |
| The last thing your family will need to worry about, if | | | | house-keeper or carer, and life insurance can provide |
| the worst should happen, is whether or not they can | | | | the financial means to get this kind of help when it's |
| afford to remain in the family home, let alone keep up | | | | needed. |
| their current lifestyle. A lump sum payment doesn't | | | | Other Important Factors to Consider |
| make up for the death of a treasured parent, but it | | | | Giving your family the best protection means carefully |
| does mean that your children will not have to go | | | | considering all your available cover options. Choosing |
| without the necessities of life. | | | | between a joint policy for you and your spouse, or |
| Get Affordable Life Insurance When You're Young | | | | two separate policies, is definitely a less expensive |
| Finding affordable life cover may be problematic for a | | | | option, but in the long term it can prove to be a |
| young family - this is a time when money is often tight. | | | | disadvantage as the policy terminates after one claim |
| However, this is also the best time to purchase life | | | | is made, leaving the other partner unprotected, and if |
| insurance. When you're young and healthy, premiums | | | | they're over forty or in poor health, getting new cover |
| are inexpensive, and this is the best time to take | | | | will prove expensive. |
| advantage of the fact that premium costs will only | | | | |