Reasons to Buy Life Insurance
As I grew older, got married, started a family, and began a business, I realised that life insurance was indispensable and fundamental to a sound financial plan. Over the years, life insurance has given me peace of mind knowing that money would be available to protect my family and estate in a number of ways.
How Much, Therefore, Should You Have?
In order to get to this, think of the above and ask yourself the question; ‘if I had not made it home last night what would have been the financial impact today?’.
This is generally going to boil down to ‘term assurance’ or ‘whole of life insurance’. They are quite different and a good advisor can talk through the pros and cons of each. The main point is to have life cover, but there are options for achieving this and, as advisors, are job is to help you understand these and what best fits your requirements.