How Much Cover?

Generally speaking you should insure to provide a lump sum big enough to pay off your debts or to invest to provide sufficient income to support your dependants for a time. However, few of us can afford all the cover we would like and it is important to remember that any amount of financial protection is better than nothing.

Questions you should consider are:

• How much would the family income drop if I were to die?
• How much would outgoings increase on things like childcare?
• How much cover do I get from my employer or pension scheme and for how long?
• What insurance policies do I have already and how far do they go to meeting my needs?
• How far will our savings go?
• What state benefits are there to cover my family´s needs?

TERM INSURANCE
Provide a lump sum big enough to pay off the mortgage or other loans or to invest to receive an income to replace your earnings.

MORTGAGE PROTECTION
Provide a lump sum equal to or greater than the outstanding balance of your mortgage loan.

FAMILY INCOME BENEFIT
Provide a monthly benefit close to your current income after tax.

CRITICAL ILLNESS INSURANCE
Provide a lump sum equivalent to one or two years pay.

<< Back to guide contents

© Lifeinsurancequotes.co.uk 2008

Life Insurance Quotes | Instant Quote | How to Apply | Insurance Guide | Insurers | About Us | Contact Us | Privacy