We’re heading back to Life Insurance and updating our previous post on Myths about Life Insurance (which you can find HERE) with another few elements we think are important.
There are lot of misconceptions out there about Life Insurance, and if we’re honest the industry is not blameless for this so let’s address some of the most common ones and see if we can’t redress a bit of the balance.
I don’t need coverage in the £millions: It’s one of the easiest options to sort on a quote – drop the final pay out and the premium goes down. It’s not the best option though. We get it, the monthly payments are hard, especially when you ‘might’ not need it for years. However 9 times out of 10 people underestimate the cost of living. Mortgage, cars, general price of living, inflation – these all take their toll and when this is an option, more is most certainly better. The flipside of that is pay what you can afford, no point in losing sight of your overall outgoings.
I have coverage through my job: but do you? What if you’re made redundant, or leave the role? What if the cover is trimmed by the provider, what if it’s not enough to cover outgoings? There are many reasons for you to question and understand your insurance better, so have a look at what your cover is before deciding.
Insurer’s won’t pay out if you have had the Covid-19 Vaccine: having the vaccine doesn’t impact Insurers claims as stated by Cover Magazine (HERE) insurers have paid out £202M in 2020 for Covid 19 death claims – just over £550,000 per day.
Life Insurance is a tricky subject, there are not many that enjoy the conversation, but it’s better to be covered and safe than not.
Have a look and get a quote from us – there’s literally nothing to lose and everything to gain. Simply fill in the form HERE and we’ll do the rest.