Life Insurance provides customers with total peace of mind
One of the most common questions we get asked at Life Insure is what would happen if I didn’t take out life insurance? In the middle of a recession, and with petrol prices rising and wages not it’s a natural question to ask, but we always like to throw the question right back to our customers.
Ask yourself, what would happen if you were to die tomorrow with your family’s finances. Then ask yourself the same question if you were to die in five years time, ten years time and fifteen years time.
If you own, or intend on owning your own home, have or intend on having your own children, then you will be intending on taking on two of the greatest financial responsibilities you’ll ever have, and they are the responsibilities life insurance was designed to protect.
We’ll take an average customer, who has a £150,000 mortgage, with 20 years left on it, and 2 children below the age of five. Both parents work, and earn a good amount of money, but not enough to survive if one of the parents didn’t work. What would happen if one of those parents died tomorrow.
Without life insurance, the surviving parent would be left with a £150,000 mortgage, plus two children to care for, and a full time job, which doesn’t pay enough to pay the mortgage, bills, and for bringing up the children. On top of those costs, that parent would also need to find childcare for the children at the times the parent who has died would have looked after them, and considering the roughly £50 a day cost of childcare, that’s not money to be laughed at.
With life insurance, you can leave behind enough money to pay off the mortgage, removing that cost from the equation completely, as well as leaving enough money to pay for childcare, bills and everything else while the family get back on their feet. The family would be able to stay in the family home, as opposed to facing having it repossessed, as is often the situation when no life insurance money is left behind.
That’s why life insurance offers total peace of mind, and should never be ignored.