Leave your children a home for life with life insurance
There are so many different reasons to take out life insurance, but your children will often be one of your biggest concerns. In an ideal world, you’ll live long enough, and earn enough money to help them buy their first house, giving them money towards the deposit they need, helping them pick the right house, surveyors and moving company, and on moving day help them move in.
Unfortunately life doesn’t always deal us the kind hands we hoped for, and unfortunately sometimes it can be cut cruelly short. That’s why you take out life insurance. It leaves behind the money your family and children need to do all the things you wish you’d been able to do for them if you were still alive.
Whilst most people will leave behind enough money to pay off the mortgage on the family home, and to provide for the children whilst they are growing up, a growing number of parents are now making sure their policy leaves enough money behind to make sure their children get a jump start onto the housing ladder.
With people now having to find deposits of up to 20%, just to buy their first home, the housing ladder isn’t easy to get on, and once you’re on it, climbing isn’t that easy either.
By leaving your children a lump sum each towards their first home, you can give them that deposit you would have helped them with if you’d still been alive, giving them that first step and guaranteeing that they’d have the equity to make sure they have some form of roof over their heads for the rest of their lives, assuming they spent the money wisely.
Life insurance provides protection in a number of different ways, and financially it’s second to none. Whilst money may not buy happiness, it certainly helps, and your family will have enough to deal with if the worst happens to you, without having to worry about finances as well.
By leaving them a life insurance payout you can make sure their whole grieving process, and the rest of their lives is a lot easier.