Should you invest in family insurance?

Do you wish to safeguard your family and estate?

Should the worst happen, family insurance offers both financial security and complete peace of mind.

It is true that not everyone needs family insurance. For example, if...

  • You have gathered enough income to independently care for your family.
  • You are single or live alone.
  • Your children are self-sufficient adults.

However, in other circumstances, it may be wise to seek insurance to protect your family, should the worst happen, for example, if you have dependants (e.g. school-age children who depend on your financial support), or if you pay the mortgage for your family home.

Family insurance provides your family with financial security, should you be made redundant, become too ill to work, or die. Indeed, many consider life insurance a fundamental part of any financial plan.

However, many people remain sceptical as to whether family insurance is really necessary. Therefore, Vincent Burch has compiled our top three reasons why family protection is important.

Should you invest in family insurance?

First, life insurance can cover your final expenses. Nowadays, funeral costs can be ridiculously high, and you don't want your family to suffer financially, as well as emotionally, after your passing.

Second, should you be diagnosed with a critical illness, critical illness cover (CIC) will help to protect both you and your family's future. The money can be used to pay off your mortgage, or even to cover additional medical costs. Now you have one less thing to worry about during this stressful time.

Thirdly, what if something should happen to you or your partner? Could you afford to keep up the mortgage payments over the typical 25 year mortgage term period? A mortgage without any protection insurance can leave any potential beneficiaries in an impossible state of affairs.

Indeed, a worst-case scenario could see you and your loved ones homeless, should the mortgage lender decide to repossess the home. This is why family insurance is so important. It can protect your family should the very worst happen.

Vincent Burch offers comprehensive advice for a range of family insurance services.

Call us to find out more information. If you have any questions, don't hesitate to contact our dedicated team. Email [email protected] with any questions you may have regarding family insurance.

We look forward to hearing from you.

Contact us today for personal mortgage advice and a quote, call 01603 340644 or email [email protected]

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