How can life insurance help safeguard your family?
With the average cost of a funeral director-led burial coming in at £4,794, life insurance can provide some support during what is bound to be a difficult time. Not to mention, if you’re the primary household earner, some forms of life insurance can replace your income to help maintain your family’s lifestyle for a set period of time as they adjust, for example, the policy can be used by a partner to pay for mortgage bills, childcare support, and tuition fees. This can be particularly helpful if a partner needs to retrain to replace your income long-term. Some policies can also be used to cover inheritance taxes, charitable contributions, support during a critical illness, and debt repayment.
It’s important to be aware that payouts are not guaranteed and terms and conditions can vary significantly among providers. That’s why we always recommend our users closely assess the T&Cs of their policy to ensure they choose the solution that most suits their family’s financial goals.
