A Guide To Life Insurance

Life Insurance simply explained

For lots of us, life insurance is an important way of helping protect the people we love – so they can maintain their lifestyle should you die.

So when looking to buy life insurance, just ask yourself 3 simple questions.

What do I need to protect?

You may have a spouse or children, and a mortgage or other outstanding loans – or even a combination of all of these. There are different types of life insurance depending upon your needs – so it’s important you get all the facts before you get a quote.

How much cover do I need?

If you have a mortgage, how much is outstanding? And how much would your family need to maintain their lifestyle without you there to provide for them?

Take into account your income and outgoings, such as your mortgage payments and utility bills. Think about childcare costs and perhaps the odd holiday. Also what your family might want in the future, possibly university fees or even a deposit for a first home. The amount of cover you need is up to you, but you’ll be surprised how it all adds up. 

How long do I need life cover for?

Think about how long’s left on your mortgage, how long your children will be financially dependent on you, and how old your partner will be when they’re likely to retire. This will help you decide how long you want your life cover to last.

Speak with us to see how Black & Red Group can help you today.

Please call us on 01392 706233 for more information or Compare Leading Insurers Here.

 

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