When is the best time to get life insurance?

Many people put off what is perhaps one of the most essential financial investments in their lives.

Life Insurance!

For most, it is merely a case of:

  • Not knowing what the best life insurance policy is
  • What age to take out life insurance
  • How to find the best life insurance policy online

However, the excuses take over and, before they know it, the time has passed by, and that essential life insurance policy has slipped through their fingers.  Because the best time to get life insurance is when you are young and healthy.  When you are young is the best time as policies are generally cheaper and offer great value for money.

Our clients often ask us “why do I need life insurance” when I am young and healthy?

Our answer is usually the same – you need life insurance if you have a family, a mortgage, and bills to pay. You also need it if your family relies on you for the majority of the family outgoings.

Think about it; if you pass away when your partner and children depend on you, how will they cope when you are not around?

Even the most straightforward and cheapest life insurance will ensure paying off the remaining mortgage term.  Additional add-ons to your policy at competitive prices will provide a lump sum to help with:

  • Day-to-day living costs
  • Childcare
  • Funeral expenses
  • Savings and university funds
  • Other outgoings

The financial benefit of life insurance can ease that awful impact when a loved one dies.

Not having the burden of worrying about immediate financial commitments goes a long way to lessen the anxieties of moving on from grief.  Surviving family members will appreciate a maintained standard of living that life insurance brings when the primary breadwinner passes away.

Statistics are not clear, but one thing is certain:

“ in 2015, 23,600 parents died in the UK, leaving dependent children (23,200 in 2014). That’s one parent every 22 minutes.” (Source: http://www.childhoodbereavementnetwork.org.uk/research/key-statistics.aspx)

With so many options and add on features and our comprehensive team of advisers can help you chose the exact life insurance products.  We take into account your budget and family needs or circumstances when providing competitive life insurance quotes.

We have covered the major life insurance policies in our series “Types of Life Insurance” but rest assured our team can advise you which is the best life insurance policy for you.

Protecting loved ones need not be a complicated process; we are here to help navigate the life insurance market, compare quotes for you and make choosing life insurance a simple exercise. Simply complete our online form to receive a call from one of our friendly team of advisors, and learn about the different options available.   We have a specialist team, helping you to make appropriate and affordable life insurance choices.

What you need to tell us when looking for life insurance. 

Honesty is essential.

If you are a smoker, have a risky job or hobby, have a pre-existing condition.

Such issues will not always result in refusal but may affect your premiums. Even if something seems trivial to you, it may become an issue at the point of a claim, so make sure you divulge everything when asked. For most cases, we can provide specialist cover to ensure you and your family receive full protection.

When planning life insurance, both parents need to sit down and discuss the impact should one of them die.  Although it may appear evident that the breadwinner is the most important, a stay at home parent has equal value.  Take into account the escalating costs of childcare, and ensure this aspect is covered.

Our team of advisors will talk through the various options to ensure you are fully covered.   Simply click the button below, fill in the quick and easy form, and a member of the team will be in touch.

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