Life Insurance Explained And Why You Need It And The Importance Of Having It
Hi Everyone
I've come on
today to talk to you about what life insurance is and why you need it life insurance is really really
important especially if you're just starting
out and just about to get a mortgage or even if you already have a mortgage so life cover.
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| Life insurance explained UK - UK Financial Solutions |
In a nutshell, what it does is exactly what it says on the tip it covers your life if you were to die
so whether you're a joint or a single application you can have life cover policies in
your own name or joint names so to give you an.
Life Insurance - Example
If you are a couple and you're living together and you have a mortgage if anything was to happen to ever of you then an insurance policy would pay out a lump sum in the event of your death that money would go straight to the spouse or your living partner or unless you've specified specifically in a trust or a will that you want the money to go to someone else so for an.
Life Insurance - Example
If you have a hundred thousand
pound mortgage and you take out an insurance a life insurance policy for three hundred thousand pounds you pay a monthly premium now that can range as low as
five pounds a month up to an
unlimited amount but there are loads of factors
that are taken into accounts age is a big factor lifestyle so your health BMI
so with regards to your height and
your weight and with regards to smoking
and you're a non-smoker if you
drink a lot of alcohol etc. there are loads of different factors that
take into account obviously.
What To Know When Choosing A Life Insurance Policy
The heal their lifestyle that you have the younger you are the lower the monthly premiums so it's really really important to speak to your bank your broker or us and make sure that you at least get a quote for your life
cover now it's important because if you do have a family or even if it's just the two of you or sometimes even if it's just yourself and you want to leave some money to a family member or a loved one.
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| Life insurance explained UK - UK Financial Solutions |
If anything happened to you then in the event of the death a lump summon again 300 000 pounds as an example can be less can be more whatever you decide would be paid out in the event of your death to that specific member of your family or whoever you specify that gives them financial freedom um so they could pay the whole mortgage off if that matches the outstanding balance or they could have that money to pay that mortgage and to be able to have a more comfortable lifestyle obviously it's quite an emotional thing.
Life Insurance Policy
It's not something that anyone really wants to talk about however
the fact is that it is inevitable
it happens to all of us and we
don't know when so the best thing
is and especially if you have a
young family or family in general and you want to look after them when
you want that peace of mind when
you go to sleep in the evening if you don't wake up then your family is protected so you must speak to a professional to make sure you have the right life cover in place and we can tailor that to what your comfortable monthly
budget is and then we can see how much you can cover yourself to make sure you have something it's better to have something rather than nothing.
So really important to make sure you have something in place, and it can be really really cheap and it is tailored to eat each individual person so I hope that's helped comment below if you have any questions at all feel free to
contact us again in the comment
box.
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