Sadly, many people get put off the idea of taking out an insurance policy for a variety of reasons, overlooking the valuable security and peace of mind that having the right cover in place can provide.
IT WILL COST TOO MUCH
The good news is that life insurance isn’t nearly as expensive as many people assume. Making a monthly premium payment is a small price to pay. Having no insurance would cost your family considerably more, and could result in them struggling for money at a sad and difficult time.
I’M FIT AND HEALTHY SO DON’T NEED COVER
The younger and fitter you are when you take out a policy, the cheaper the premiums are likely to be. If you wait until you’re older and have health problems, your premiums will be higher.
IT WON’T HAPPEN TO ME
It’s estimated that 1 in 291 children will lose a parent before they finish full-time education. Unfortunately, accidents and illness can occur at any age, and no-one would want to risk leaving their family with money worries if disaster were to strike.
I’M A STAY-AT-HOME PARENT, I DON’T NEED COVER
Just think of all the tasks you carry out. Everything from cleaning, cooking and childcare might have to be paid for if you weren’t there; a payout from a policy could help provide the care your family needs.
I GET COVER THROUGH MY JOB
You may get insurance as part of your employment package, but it may not be enough for your needs, and the chances are the policy won’t move with you if you change jobs.
I JUST DON’T HAVE THE TIME TO FIND A POLICY
That’s where an independent financial adviser can really help. They can find a cost-effective policy that will meet your needs. What’s more, if your life changes they’re on hand to help ensure you always have the right protection policies in place.
1 Childhood Bereavement Network