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  1. When should I review my Life Insurance?

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    I hear alot of people say 'oh yes I have Life Insurance already' but do you know if it is right for you right now? Life never stays the same.

    So here is a list of reasons to review your insurances:
    • A house move - have you borrowed more?
    • When you borrow more on your house
    • A new job - has your pay gone up? Has your job typed changed?
    • An increase in outgoings - did you take the maximum income protection out available to you or was it less?
    • A new baby or child that is dependent on you - you can also have critical illness for them if you haven't got it already.
    • Children moving out and no longer financially dependent
    • An increase in surplus income - perhaps you have a better budget for your insurance needs now

    These are just some of the reasons. As our lives change its important that our insurances reflect what we really need.

    My husband and I recently reviewed and updated ours following a house move. We kept elements of our cover and simply topped some of them up.
     

  2. Life Insurance - Providing a Monthly Income

    Posted on

    I am sure you have heard of Life Insurance many times but did you know that instead of paying out a lump sum it can pay a monthly income instead?

    Family Income Benefit is Life Insurance (can also be critical illness cover) but it pays out a monthly income if you pass away during the term.

    What are the benefits?

    There are actually many benefits to this type of insurance, it:

    • is a great affordable option
    • it allows peace of mind that the money can be used more effectively and has an end date so that it is managed better
    • you can choose how much you would like the monthly income to be and the term

    What can it be used for?

    • To replace a lost income into the household to support a spouse/partner
    • To provide an income for Legal Guardians to take care of your child/children
    • To replace a Child Maintenance payment
    • To provide a long term income that can be managed effectively

    I feel that Family Income Benefit is a great product to add to any existing cover you have and if you don't have any cover it is a great place to start.

    Some of my clients opt for £500 a month and others £1000 to replace their income and continue supporting their family financially if they were no longer there.

    Many clients choose to have a term that fits with when their youngest child is 18 for example, some choose 21 and 23, it is upto you.

    I can help you work out how much cover would be suitable and help you to gain peace of mind. 

    You can contact me for a review and I do not charge a fee for my advice. Call or e-mail me or alternatively you can make an appointment easily here.

    Please note for these insurance products, terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan.