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Most of us would agree that the important parts of life all contain those who we hold dear. Who you love is down to you, but it’ll often include your partner and sometimes children right?

So let’s just say that these people are a crucial part of your life. So do you have anything in place to protect them and yourself?

Life insurance is a great way to help protect your family financially, should the worst happen. It is designed to pay out a cash sum if you die during the length of the policy. It could be used to help pay the mortgage or help protect the family’s lifestyle and everyday living expenses.

Despite that, *8.5 million people are without life insurance, meaning their partner and children may not be covered in a worst case scenario.

So what plans are available for you and your loved ones to keep you both protected?

Single Life Cover

Single cover insures one person only. If a couple holds two single policies and one partner dies, then the surviving partner still has their own policy.

Joint Life Cover

Joint life cover means the chosen amount of cover is paid out if the first person dies, during the length of the policy, after which the policy would end.

The verdict?

If you have loved ones who depend on you financially you may have a need for life insurance. However, the choice of whether you go with a single policy or a joint policy really depends on your circumstances.

When deciding which of these options is right for you, take stock of your present needs and, though it’s not nice to think about, prepare for worst-case scenarios.

By considering the level of cover you and your partner each need, your relationship, and the cost of both options, it will help you decide what’s right for you.

Want to learn more about what life insurance is available? Click here to arrange a time for one of our specialists to get in touch or call them on 01564 791 120

Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.

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