What is Family Life Insurance?
Family life insurance offers protection for your loved ones’ securing their financial well-being if the worst were to happen to you.
There are a number of different family life policy types available dependant on what it is you are looking to protect.
These provide either a one-off lump sum payout, ideal for covering one off large expense such as a mortgage, or on-going tax-free monthly payments suited to replacing lost income and helping with daily living costs.
Both types of family insurance require monthly premium payments to be made and if the worst were to happen, your loved ones could make a claim.
Do I need Family Life Insurance?
Having in place some form of family life insurance is essential for anyone with dependants to ensure their financial security if you were no longer around to provide.
If the worst were to happen, cover could provide peace of mind that your loved ones will be able to remain in their home, continue their existing lifestyle and not be faced with financial strain at an already difficult time.
When determining the best family life insurance to suit your needs, it is best to determine what aspects you are looking to cover, and the amount required to provide this level of protection.
How much is Family Life Insurance?
The cost of family life insurance will vary significantly between insurers, making it essential to compare multiple quotes to secure the best deal.
Ultimately, the cost of your premiums will be based on the level of risk you pose to the insurer.
Factors such as age, health, smoking status, type and amount of cover will be taken into account and your premiums will be calculated accordingly.
Generally speaking, the younger and healthier you are, the lower the monthly cost of your family life insurance.
At Reassured we do the hard work for you, comparing a wide range of quotes on your behalf to ensure you get the best cover to suit your needs at the most cost-effective price.
And our service is completely free!