According to research published by the Nationwide, almost half of parents in the UK are leaving their families at risk because they do not have any life cover in place and over three-quarters, have no protection against the impact of a critical illness. It is a sad fact that whilst most of us are quite happy to insure our car, our house, our travel arrangements – and even our mobile phones – to their full value, few of us take quite as much care over our health and loved ones.
The following questions may help you to start thinking about what is most important:
• Do you have young children or others who are dependent on you financially?
• Do you pay school fees or nursing home fees for others?
• Do you have debts (including a mortgage) which your beneficiaries could not manage, even if it were only for a short time?
• Do you have investments which might provide income if you were unable to work?
• Do you have any assets which could be sold if you were unable to work?
If the answer to the first Three questions is NO and the last Two is YES then you will probably be OK, if not then you need to consider the options for protecting your family.
If you need to talk to someone for impartial and independent advice call us today on 01778 342291