An Overview Of Life Insurance
Last week I shared an article sharing the benefits of Income Protection, this week I want to focus on Life Insurance.
Why would you need life insurance?
Life Insurance pays a lump sum that can help your family pay bills, loans or mortgage payments if you were to become seriously ill or die.
On a personal basis, it would be required if you had dependents or children to make sure that all the bills are paid if you fall ill or get seriously injured.
If you have debt, you want to have the security that it will be paid and from the point of view of estate planning which can be an inheritance, it can be inheritance tax if there is a bill there and also ongoing costs of probate, legal fees and funeral cost too.
Company life insurance ensures that your co-workers, key individuals in the company and the business itself are insured for the unexpected.
How much does life insurance cost?
It's difficult to put an actual cost on it as there are a number of variables to consider...
? How Much You Want To Take Out
? The Length Of Cover You Want
? Your Age, Health & Smoking Status
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