Do you need life insurance?
If you have a large amount of money in savings that could be used to provide for your family in the event of your death then perhaps not. If this doesn’t apply to you then read on…
Emotional & financial impact of death
Losing a parent is devastating for any child and there really are no words to express the feelings of grief and loss that a family will go through. Aside from the emotional suffering though, there is the life-changing financial impact and a single-wage family may have to make many sacrifices. Ask yourself, If you were in this situation could you afford to continue sending your kids to after-school clubs and classes? Would you have to cut back on your leisure and entertainment spending? Could you afford to go on holiday? And most importantly of all could you still afford to put food on the table and pay your household bills and mortgage or rent?
The importance of planning for the unexpected
Death is something we don’t like to think about so many of us don’t. It’s also something many of us fail to plan for financially. If you lost your partner you may find you have to make many changes or you may be forced to work more hours and spend less time with your children. This in itself may mean additional costs for childcare and all of this at a time when you are trying to come to terms with your loss and just want to be with your children to support them.
How can life insurance help?
A life insurance policy is a way to ensure your family is financially provided for. It pays out a sum of money in the event of the policyholder dying. This can be paid either as a lump-sum or as a monthly benefit for a set number of years. They are often inexpensive and can give you the peace of mind that your family will not need to struggle with money worries if the worst should happen.
Have a chat with us
If you’d like to find out more about life insurance please fill in the form below and we’ll get in touch. Hollybeck provide free protection advice and we don’t charge a fee if we set up an insurance policy for you.