Protecting your nearest and dearest

Most people who have a car, insure it. They pay hundreds of pounds a year to insure something worth £10k on average. Many insure their mobile phone, cover for i phone can cost up to £15 per month. How much does a new I phone cost? £600? But how many of us have insured the most precious thing we have - our life? If you were to die, life insurance will not replace you or bring you back. It will however make the life of your loved ones easier and more secure.

When you think about it, life cover is a quite unique product- the person who is the insured, will not benefit from the proceeds of the policy. He or she will be, well, dead. Life cover is a way to show you care about your nearest and dearest by providing a lump sum or annual income to provide for one - off lump sums or/and regular income.

Your adviser will help you to establish the appropriate amounts of cover, and complete the application for you. You will have to complete a thorough medical and financial fact find and might be asked by the insurer to attend a nurse screening or do some tests. In most cases a letter to your GP from the insurer will be sufficient to satisfy their information requirements. When completing the medical fact find, it is of utmost importance that you are completely truthful in your answers- it could jeopardise the payout on your policy if you are not.

Once your plan is in place, it is advisable to review the levels of cover on a regular basis to ensure it still meets your current needs in the most appropriate and cost-effective way.

For honest impartial advice, please contact us on 0845 263 0008 to make an appointment or if you prefer you can email us on money@outlet.co.uk Alternatively, please complete the form below and an adviser will be in touch in the next 24 hours.

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