5 important reasons to get life insurance
Research carried out by Aviva late last year, found that 65% of people surveyed who had passed away in the last 5 years, did not have life insurance, so we’ve assembled a list of reasons why you ought to look at securing life insurance for you and your family:
- Peace of mind
Arguably the biggest and most compelling reason- you can relax knowing your family are taken care of should the worst happen. We know that financial worries are one of the biggest concerns for your loved ones should you die.
- Financial comfort
Losing someone from the family will no doubt cause financial difficulties, regardless of their proportion of the household income. Most policies pay a tax-free lump sum of cash upon the policy holder’s death so you’ll know the living partner (and any children) are taken care of and comfortable.
- No need to move home
The upheaval of losing a loved one is enough without having to consider moving home as well. Receiving a pay-out can help maintain regular payments to stay in the home, or may even go towards paying off a mortgage that could reduce monthly outgoings so the family can afford to stay in the property.
- Unexpected costs
Unexpected costs are…unexpected. So would your family be able to afford to replace the washing machine should it stop working, or the car should it breakdown? Having a stable bank account ensures these unforeseen expenses could be covered.
- No need to make cutbacks
Does your family need to go without family holidays, or make cutbacks on the weekly shop following the loss of your income? Ideally, you want your family’s lives to go on with as little disruption as possible after the upheaval of a loss. Furthermore, families may seek debt incurring alternatives such as loans or credit cards to make up for the cutbacks they’ll have to make.