For many of us, getting around to purchasing Life Assurance is a bit like making an appointment to see a dentist, or spring cleaning the house. We know it needs to be done, but we’d rather put it off until the last minute because of other more pressing commitments. However, buying a good Life Assurance product can make a real difference should you ever be in a position to claim, and it only makes its real value known when you actually come to make that claim.
A good Life Assurance policy safeguards the holder against a number of financial setbacks, supporting their spouse and children to carry on should the worst happen. The following ten points are all direct benefits associated with the product, as a gentle reminder for you to spend a few minutes getting a great policy in place to provide security for the future...
- If one assured partner in the family dies, Life Assurance helps the surviving spouse to continue with their current lifestyle. In that situation, any help to keep things constant for a while is important.
- Comprehensive policies enable your family to have funds to deal with financial concerns such as paying off the mortgage, and having cash in place to settle loans in the event of your death. This can be a significant support at a difficult time.
- Many policies now offer a pension or savings element to the benefits, which can support you upon your retirement. This eases the pressure of your financial situation when you give up work.
- Some Life Assurance enables you to draw down on the amount accrued in the form of a loan or cash payment, during your lifetime. This can be an invaluable asset to supplement your existing financial security.
- Life Assurance can be used to safeguard your property and possessions, upon your death. It provides tax-free lump sums to cover your death duties and estate, supporting your family to cover expenses.
- Taking out certain policies for Life Assurance can provide benefits including Critical Illness cover, which can be extended in many cases to the rest of your family.
- Should you be declared bankrupt, your Life Assurance policy will not be taken in to account by your creditors, leaving it safe and sound.
- Many policies have an option to provide a lump sum to cover funeral expenses, removing pressure from your family to cover these costs.
- If you run a business, having insurance in place will protect it against any financial loss or liabilities.
- If you take out a loan of any kind, many companies take your Life Assurance policy in to consideration, and view it as an asset which can actually enhance your credit rating.
Contact Parkway Financial Solutions today and let us help you find Life Assurance.