Why do I need a life insurance policy?

Here at life insurance quotes we get asked several times every day by people why they need a life insurance policy. If you’re buying a policy which you’ll pay for on a monthly basis for twenty five years it’s a damn good question and one that really has a pretty simple answer.

The easiest way to answer the question you have asked is to ask yourself what would happen to your family financially if you were to die tomorrow. Regardless of whether you are the main breadwinner of the family, or you look after the children, ask yourself how your family would cope without your income, and your time.

If you look after children, take into account the cost of childcare, which at nearly £50 a day on average can cost over £1000 extra each month.

You should also consider the cost of your mortgage, and household bills, and the impact only having one salary to pay them would be.

If you, like many people realise that your family simply wouldn’t be left with enough money, then consider what would happen to them trying to survive on a lot less money. Ask yourself how long the mortgage lenders would wait before repossessing the home, or how long the gas company will wait before cutting off the heating and hot water in your home.

For most people, that thought is more than enough to understand exactly why a life insurance policy is so important, and it’s not you you’re protecting, it’s your family who you may leave behind. No one wants to think about the worst happening, but the best gift you could leave behind would be the fact you were prepared, and left your family the lump sum they need to pay off their mortgage, guaranteeing them somewhere to live, and to pay for childcare, household bills and everything else they may need until they find a way back onto their feet.

Life insurance is important, and making the decision to buy a life insurance policy, and then buying one is one of the best decisions you’ll ever make on your families behalf.

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