Tuesday 13 June 2023

Ad | Why should parents take out life insurance?

Why should parents take out life insurance? 

As a parent, you’ll know what it's like to have your hands full. From hectic morning routines and busy bedtimes to schedules that are bursting at the seams and even juggling your career in the moments where you can catch your breath. It’s safe to say that being a parent leaves little time for life admin and all those other little jobs that should be at the top of your priorities. 

Two young boys in school uniform with book bags, walking ahead facing away from the camera

One of the most common tasks that parents inevitably avoid is organising a life insurance policy. Putting in place affordable life insurance cover can sound like a long-drawn-out process and the thought of searching for a quote and working your way through a myriad of health questions whilst your kids are squabbling in the background is enough to put any busy parent off inquiring about life cover. 

However, if you have children, life insurance is something that should never be put off. In this post, we’ll explore why parents should take out life insurance for the benefit of their dependents and their peace of mind! 

Financial support for your dependents and your partner

No one likes to think about dying, but, when you have a partner and children to support it’s important to think about what the future might hold. Therefore, knowing that your loved ones will be financially secure in the event of your death can certainly bring any parent peace of mind. Even if your children are grown up and have flown the nest, having a life insurance policy in place ensures that they’ll have some financial support in their adult lives.

You have a mortgage

If you have a mortgage and you unexpectedly pass away, then the remainder of that debt will fall to your partner or another loved one. A sobering thought! Having a life insurance policy in place can help cover these daunting costs, securing the family home and relieving some of the financial strain your loved ones would be under. Some providers offer life insurance policies for this specific purpose. 

6 children of various ages sitting in the back of a T4 vw transporter van

You’re extending your family even more

Is your family growing? A big family is wonderful, but it also comes with added financial pressures. And if something happened and you unexpectedly fell ill or you passed away, there’s no guarantee that your child or children would be cared for and financially secure in the way you initially planned. Taking out life insurance gives you and your family that much-needed safety net - ensuring they get the very best start in life, no matter what happens.

You don’t want to burden your family with funeral costs

The cost of a funeral - and the unique send-off you and your family would want for you - might shock you. Regrettably, few people realise this until it’s too late. If you don’t want your family to be burdened with more debt and bills to pay during the grieving process, then a life insurance policy is the ideal way to ensure that all these costs are taken care of. 

Final Thoughts…

If you have children and dependents, then taking out a life insurance policy simply makes sense. If you’ve been putting it off, why not make a start now? 

6 children of various ages seated at a long wooden table eating exciting ice creams

Some photos in this post are from my own reviews of Sealife, Manchester (we were ambassadors for several years and have visited Sealife many times), and Cadwalladers ice cream, which used to be next door, but sadly no longer exists).

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