The responsibility of bringing a new life into the world often prompts us to take a long hard look at our financial situation and ponder how well our family or other Dependants would cope with the financial side of life if your income was lost for some reason.
If you die prematurely, become disabled or critically ill, will the loss of income be financially as well as emotionally devastating? Whilst this is unpleasant to consider, they’re truths that have to be faced and there’s no better time to start making financial plans for such eventualities than with the birth of your first child.
Why Do You Need Life Cover?
Life cover is designed to provide financial protection for your family if you should die or, with some policies, for you too if you are diagnosed with a terminal illness. You can also include additional cover to pay out the benefit amount if youe are diagnosed with a critical illness covered by the policy. The last thing your family will need to worry about, if the worst should happen, is whether or not they can afford to remain in the family home, let alone keep up their current lifestyle. A lump sum payment doesn’t make up for...
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