The Importance of Life Insurance

Other than the obvious, life insurance has many important advantages for you and your family.

We are sure that you will be surprised to find out that one in four breadwinners don’t have life insurance, which could lead to enormous financial problems should they pass away.

With one in four people not having any type of life insurance that means 8.5 million in the UK are risking their families having to payout ￡31,000 should a family member die. So why are people not getting life insurance?

Recent research found that 67% of people said that insurance, particularly life insurance, was “confusing” and that it is hard to understand exactly what you need and why you need it.

At Bespoke Support Network Essex, we strive to provide all our clients with the very best experts in everything from finances to insurance. In order to help out our confused customers, we asked our experts why exactly people should get life insurance and here’s what they said:

“As we start growing older, getting married and starting families, we become more and more aware about the importance of life and protecting it.

For parents, business owners and property owners this means life insurance comes into the picture becoming a fundamental part of our financial plans. You can find comfort in knowing money will become available to protect your family in the event of your death, should you get life insurance.”

Here are a few other reasons to get covered by life insurance:

● Inheritance – Perhaps you have assets to pass onto your children such as the house, a car or even money, you can guarantee they should receive this inheritance with a life insurance plan. Even without any assets to give, you can create an inheritance for your kids by buying a policy and name them as beneficiaries.

● Pay Off Debt – As well as protecting your family and providing them a income, your family’s life insurance can cover any outstanding debts such as mortgages and credit card bills.

● Financial Security – As a parent you want to know that your kids are well looked after when you pass away. Not only could they want to go to university but they could be getting married or starting a business, and you will want them to be financial stable in the event of these big life events.

Are you interested in starting a life insurance policy? Bespoke Support Network have partnerships with hundreds of experts in the finance industry, including qualified and trusted insurance brokers and advisors. Get in touch with the team at Bespoke Support Network on 0300 303 3441.