Should I buy Life Insurance?
Should I buy Life Insurance?
It’s going to happen to everyone, we don’t want to think about it, but your untimely demise could have one of the biggest financial implications for those closes to you, It’s never nice to think about, but as a rule of thumb, if you have dependants such as a partner or children, then it’s generally a good idea to take out some form of Life Insurance.
When should you consider buying life insurance? 
If you don’t already have life insurance, there are certain changes in circumstances that might lead you to reconsider, such as:
•Becoming a parent.
•Getting married.
•A change in your income level like becoming the main breadwinner in the family or a partner losing their job.
•Moving home, buying a house or taking out a substantial loan (for buying a car etc.).
Life Insurance policies.
There are two types of life insurance, whole of life and term assurance. As the name implies, whole of life cover extends throughout your natural lifetime, although this type of policy does usually attract higher premiums.
Term Assurance tends to appeal to those looking at paying lower monthly premiums on their life insurance.
Life Insurance from Asda- From only £5 per month!
How much cover will you need?
Ideally you should be looking at enough cover to ensure that your dependants are able to maintain their standard of living if the worse should happen to you. A ballpark figure is typically 10 times your current salary, although people without children may require less.
Is life Insurance expensive?
The good news is that Life insurance can cost as little as under £10 per month! Depending on the amount and type of cover you need, we have provided some links below that may give you an indication of the monthly cost you are looking at. Remember, it’s FREE to get a quote and is a good idea to shop around to find the best policy/cover for you!
Legal & General – Life Insurance from less than £6 per month – Free Quote
Asda Life Insurance – From only £5 per month
Compare Life Insurance Quotes in one easy to use website
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Posted by credit4everyone
on Jul 30 2010 Filed under Our Guides.
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