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Family Life Insurance

What is family life insurance?

Family life insurance is simply a way of describing a life insurance policy taken out to protect your loved ones’ financial security if you were no longer around.

This type of protection commonly takes the form of level term cover, which pays out a fixed lump sum if you were to die at any point during the policy term.

There are other policy options available to protect your family, such as family income benefit or whole of life insurance.

There is also decreasing term cover which is generally used to protect a family home on a repayment mortgage.

Family life insurance protection

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Who might need family life insurance cover?

Family life insurance is a very good idea if you have dependants who rely on you financially, be it children, a spouse or partner.

If you were no longer around would your family be able to afford to continue living in the family home? Would your loved ones be able to maintain their current standard of living?

With comprehensive family life insurance, you can protect your loved ones, whatever the future may hold.

The benefits of family life insurance:

Financial data from the UK suggests:

These statistics from and emphasise the importance of mums and dads securing adequate life insurance.

Despite this, according to insurer Legal & General, almost half of parents do not have any life insurance in place.

Family life insurance scenarioFamily life insurance example scenario

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Family life insurance in summary:

Why use Reassured to secure the best family protection policy?

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