Do I need life insurance in my 50s?
Although you might still feel you are in the prime of your life, shocking data released by the Office for National Statistics shows that across the UK in 2010 almost 17,000 men in their 50's passed away. Unfortunately, the statistics for women are no less frightening, with over 11,000 women dying in their 50's in the same period.
The good news is, if you have a healthy lifestyle the chances of something so drastic happening to you are quite low. Despite that, in terms of protecting your loved ones, it's best to plan for the worst case scenario. Making sure you are fully covered will give you peace of mind that should the worse happen, your family will have the financial help they need.
What could my policy cover?
- Funerals - By taking out a life insurance policy you could protect your family from financial hardship. With the average funeral costing in excess of £2,000, this initial outlay could be covered when your family needs the help the most.
- Mortgage payments –The mortgage repayments on a family home can be crippling for someone on their own. If you have just lost your long term partner this can be a worry you really don't need.
- Household bills – Even the basics can mount up so having some extra money to help when you have lost regular income to the household can really help. Use our life insurance calculator to work out how much cover you may need.
Use our life insurance calculator to work out how much cover you could need.
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