Life Insurance
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Life Insurance
Life Insurance is a protection for your family if the worst should happen to you. It can be an extremely emotional time when you lose a loved one, which will often be made worse when financial stresses and worries come in to the picture. Making this time a little easier for your family by ensuring you have adequate life insurance will do some way to helping them get through a very difficult time. It will offer you and them peace of mind that should the worst happen, they will have help with many financial commitments that the family may be left with.
If you want to make sure that your family are protected against financial hardships if you die, the taking out Life insurance is a simple and effective way to do this.
There may be a number of reasons why we have not already taken out a life insurance policy. The plans and policies may seem complicated and confusing; we may think it will be too expensive or we may just not want to think about dying. But despite this, it is important to finalise your Life insurance and have a clear plan for your future.
What is Life Insurance?
Life insurance is an important product that will help you to plan for your family’s future, should the worst happen. It will pay out a fixed amount of money over a pre-agreed time frame, or term. The term is something that you can decide on when you take out your life insurance.
How Does it Work?
If you die during the term of your policy then a pre-determined tax-free amount will be paid out after your death. You can decide whether you would like the money paid out in one single lump sum, or over a given time-frame, such as the amount of time you have left on your mortgage.
It is important to note that if you die outside of the term of your policy then you will not be entitled to any pay-out. If you reach the end of your policy, you are able to extend it to maintain your cover if you wish or take out an entirely new policy. If you choose to leave your policy and not take out a new one then you will not be entitled to any of the money you paid in to it.
Why do I need it?
If you die unexpectedly it may have a financial impact on your family. Upon your death, the loss of your wages or other income could lead to difficulties in paying household bills and a lower standard of living for your loved ones. Life insurance protects against this.
Although it may not be enough to pay off all of your debts, the tax-free, lump sum may be enough to pay off your mortgage, substitute your income or even help with university fees.
There are other benefits to Life Insurance, including ‘temporary cover’. This allows for you to be covered by your life insurance for up to 90 days – the time it may take to underwrite your application.
What is the Process?
Making an application for Life Insurance is simple. Just fill out the online form and Pure Cover will pass your details to a local advisor who will be able to discuss your quote in detail and answer any questions you may have.
When filling out our online form, it is vital that you answer each question truthfully and provide us with your full medical history to allow us to find the correct plan for you. The process should only take a matter of minutes, then you will be well on your way to securing your family’s financial future, should the worst happen.
