Money Matters: Is your family properly protected?

No wants to think about what will happen when a loved one dies. Your life changes forever and the financial strain your family will experience will be the last thing they would want to worry about. If you have dependants or if you are in any form of debt, it is essential that you are prepared and you ensure your family is properly protected.

The number of people that have life insurance has been rapidly declining. Research from Aviva has shown that 52% of UK adults have no life cover at all. Of those that are protected a large proportion do not have adequate cover. More and more people are now attracted to cheap comparison sites to find the lowest premium. They often find that these types of “off-the-shelf” products do not fully cover costs after their death and ultimately leave their family under financial pressure.

It is all too easy to forget about what mounting costs will occur when you are gone. Mortgage repayment, debt repayment, interest on your mortgage and debts, funeral costs, child care costs and day-to-day living costs of your family all add up, especially if you have young children.

There a number of life protection products available to suit any family, all with different benefits that could ease the pressure and offer support if the worst happens. Stephen Thatcher, based at Location Estate Agents takes the time to ensure he finds the best cover for you. He undertakes a full review to ensure that you are not only fully covered but also that you are fully covered for the best possible price.

*Please note that you should never cancel an existing policy prior to taking out a new one without fully investigating the generic and individual elements that are covered.