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    The Importance of Life Insurance

    August 21, 2017

August 21, 2017

The Importance of Life Insurance

Facts and figures:

Are you aware that right now, Britain is facing a deficit of 5 trillion pounds? The reason? People are taking endless amounts of loans out and not repaying their debt. Instead of allowing your family to be left in such a situation, it is important to cover yourself and your loved ones for when you do pass.

One of the main concerns you will need to sort out is making sure your life insurance is put into a trust. Without doing so, you could end up paying the tax man 40% of your savings. You shouldn’t pay the premium of losing 40% of your hard saved money, without even touching it!

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

It’s importance:

Keeping your family financially stable is another important reason for life insurance. For example, covering education costs could allow a family member to achieve their dream of working in a particular job, or even add security to paying off those university debts.

Of course, life insurance also covers any additional costs you may need. Along with the added stress and emotions your family already have, the cost of funerals can amount to thousands of pounds. Do the right thing to avoid having this shadowed over your families heads, and look into getting life insurance.

Funding a home is one of the hardest things to do. The last thing you want is your loved ones having to sell their home because they can no longer afford to live there. Talk to one of our team members today to ensure this never happens to your family.

With life insurance, you choose the amount of cover you will need, how long you need it for and how you pay it, making it completely personal to you! In return your family will have the reassurance they need, knowing that if you sadly pass while covered by the policy, they would receive a cash sum pay out if a valid claim were made.

Speak to the experts: 

Start putting towards the protection of your family today, by taking out a life insurance policy. Unsure of where to start and what all this means? We are here to help. Contact Bespoke Support Network today and we can advise you on the best possible solutions for you and your loved ones.

Here at BSN we have partnerships with hundreds of experts in the finance industry, including qualified and trusted insurance brokers and advisors.

Get in touch with the team on 0300 303 3441

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