Five reasons to consider life insurance

Are you one of the 77% of UK adults* who don't have life insurance?

Family with father holding son

What would happen to your family and your home if you were no longer around to provide an income and help pay the bills? Life insurance can be a simple and cost effective way to help financially support your family if you die.

None of us can predict what the future holds so, whatever your stage in life, there's always a reason to think about life insurance.

Here are five reasons why we think it's important.

For your partner

Taking out life insurance could help financially protect your partner if something happens to you during the policy term. If you're planning to buy a house or have a family, then life insurance might be something you're considering for the future. But life insurance gets more expensive as you get older so it's worth applying sooner rather than later.

For your children

Whatever age your children are, you'll want to make sure they are financially protected if something happens to you. Your income may be a significant contribution to their current lifestyle, including everything from the household bills to days out. You might be planning to provide for their future needs too – like university fees. Family life insurance could be used to help cover your income if you die during the term of the policy.

To help cover your mortgage

Without your income, would your family be able to maintain your mortgage payments? Mortgage life insurance could help offer you added peace of mind that the mortgage is covered and that your family would be able to stay in their home.

You've just moved house

If you've moved to a bigger house or have downsized, you might like to consider if your life insurance cover matches your new lifestyle. Use our life insurance cover calculator to help work out how much cover you should have.

Funeral expenses

Taking a pragmatic approach and making financial provisions for your funeral can be invaluable to those left behind. Funeral costs are rising, and taking out life insurance could help cover those expenses to ease the strain on your family at a difficult time. As with all life insurance, taking cover out as soon as possible will give you more cover for your money.

What to do next

To help you work out how much life insurance cover you may need, we've created an easy to use life insurance cover calculator. You can enter your income and outgoings to get an idea of the right level of cover for you. You can also check out our comparison table to see which plan best suits you and your family.

Find out more about AA Life Insurance provided by Legal & General, or call 0800 294 2737 to talk about the options available to you, whatever your current circumstances.


* Mintel Report on Term Life Assurance, July 2014.

11 May 2015

 

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