We don’t like to think about our mortality but if you are a parent then you must consider the future of your dependents if something happened to you. How would they cope financially?
In helping you to make a decision about protecting your dependants from the financial impact of your premature death, your Financial Advisor will research your options.
If your Financial Advisor recommends life insurance cover as the most suitable option for you, they will recommend a plan from the range of life insurance companies they deal with, proving you with a ‘fair analysis’ of the market.
There are two key decisions you will need to make when taking out life insurance cover:
(1) How much cover do I need ?
(2) Which type of cover is best suited to my needs ?
Your Financial Advisor will be able to explain the choices available to you in simple language allowing you to make an informed decision. They can guide you on the level of cover you need and the best type of cover for you based on your personal and financial circumstances.
They will then help you through the process of setting up your life insurance cover, help you to make sense of the cover provided and the restrictions and limitations of such cover.
Ultimately your Financial Advisor will ensure you choose the cover and product best suited to your needs and circumstances.
Nobody wants to think about the worst happening, but death is a fact of life and it’s a good idea to have a plan in place to protect your loved ones financially in the event of your death.
If you die prematurely this could have serious implications for your family. It could mean a significant and sudden reduction in their financial wellbeing as
– Your earned income will stop
– Loans my become repayable
– Inheritance tax could arise for your dependants
While social welfare benefits payable on your death, such as the widows/widowers/surviving partners pension may replace part of your earned income, the benefits they provide are low and are designed to cover only the basic necessities of life.
By taking out a life insurance policy you can ensure that in the case of your premature death, your family will be on a firm financial footing.
The first thing we do when we get into the car is put our seatbelt on. If we are in the car with our children we always check that they have their seatbelts on too. As a parent you take precautions every day to protect the lives of your children. It’s important to consider life assurance in the same way, as a precaution should the worst happen.
Ark Finance are an independent company offering professional Financial advice on many products including life assurance. Talk to us today about how you can protect your family.