7 Reasons Why You Should Consider Financial Protection

1. Protection for your Home

Homeowners are often comforted by the knowledge that in the unfortunate event of their death, a finance protection policy can spare family members from financial burdens they may not be able to cope with at a time when there is also emotional turmoil.

Taking out family finance protection ensures there will always be enough money to pay off your mortgage, guaranteeing your family will keep a roof over its head.

2. To Pay Off Existing Debts and Any Unplanned Expenses

Many of us have loans and debts, ranging from over-extended credit cards to car loans or home improvement loans. While there are two incomes these are a responsibility, but not a problem. However, lose one income, and very swiftly it is possible to become swamped in debt. A critical illness policy is your best way to guarantee that never happens.

In addition, the cost of a cremation or funeral can be extremely high, with the average cost, respectively, of £3,214.00 and £4,136.00 having increased by 80% over the past decade, according to research by the University of Bath’s Institute for Policy Research. Do you really want to leave your loved ones feeling guilty because they can’t afford to pay for a funeral they want to give you to show how much they love you?

Many people consider funeral policies purely to ensure their nearest and dearest do not have to struggle financially whilst grieving. Taking out a funeral protection policy can ensure that your family don’t need to go through any unnecessary stress at an already difficult time.

3. Looking Out For Your Children When You Are Gone

Looking after family is a key driver for many policy purchases. Whilst money cannot replace you, the benefits of a finance protection policy means you can continue to provide for your family long after you have gone.

As parents, we always want the very best for our children, and their education is a critical part of that. Many plan to help their children when they go on to further education, or when they want to buy their first home. Saving for this takes time, and in the event of your death, all those plans could come to nothing. With a life insurance policy, you can guarantee that even in your absence, you can still play a huge part in your children’s future.

4. Long-term Financial Protection for Your Spouse

Many households rely on two incomes, if you were unable to provide this anymore would your spouse be able to cope on their own? Income protection policies can help the surviving spouse to move forward without having to endure crippling financial hardship.

Taking out an income protection policy is your way to protect your spouse at a time when they will need the most help.

5.  A Financial Protection Policy Isn’t Just for One of You

Up until now we have just been talking to you and making sure that you protect your spouse and your family. However, whatever we say to you is equally applicable to your spouse. It makes a lot of sense to ensure you are both protected, and many policies can cover both you and your partner, creating the perfect solution.

6. Don’t Ruin Your Partner’s Retirement

Let’s be honest, many of us don’t start thinking about retirement and pensions until is almost too late and we have to start playing ‘catch-up with increased payments to boost our pension fund. This is a dangerous game to play when you consider that the older you get, the greater your chances of dying become. There are a number of protection options to choose from, which will ensure that your partner will be able to enjoy their retirement just as you would want them to, rather than struggle financially at a time when they don’t deserve to.

7. The Longer You Wait, the More it Will Cost You

It goes without saying that the older you are when you first take out any financial protection policy the higher your initial premiums will be.

Don’t keep putting off what you can do today, it could cost you a lot in the future, and not just in premiums!

The savings really are substantial, as you’re about to find out.

Here’s How You Do It:

Step 1: Click your gender below.

Step 2: Simply click “get quote” on the next screen. You will then have direct access to LifeInsuranceFinder.co.uk, one of the UK’s leading family finance protection sites.