It’s human nature to avoid thinking about what might happen in the event of your death or a serious illness, we can rarely predict when these scenarios might occur.
Protecting your family with life insurance is an important aspect of financial planning. Life insurance provides a safety net for your loved ones in the event of your death, ensuring they are financially supported during a difficult time.

The question you need to ask yourself is this: “If I have to stop working because of illness or if I pass away early, would my family have adequate financial support to sustain a comfortable lifestyle?” Being proactive in assessing your family’s unique requirements is key to ensuring your loved ones will be taken care of in the event of a debilitating illness or an untimely death.

Effective plans can take the financial and emotional burden off your family’s shoulders during what will be a difficult time; it will also save them unnecessary costs. Family protection: Insurance can help protect your family’s standard of living Picture a high-earning company executive who supports their family with a certain level of income. They want to ensure this standard of living will be maintained even if they develop a serious illness or pass away unexpectedly, while still of working age. Both family protection in the form of critical illness cover or income protection and life insurance can offer peace of mind, acting as a financial safety net for the family by providing enough money to sustain them for years to come. Let’s look at these in more detail.

• Protecting against illness: This cover can be an effective way to offset the potential costs that can result from having a debilitating illness. Critically, it can guarantee you a lump sum or replace after-tax income.
• Life insurance: Pays out a lump sum in the event of death. This may be used to repay debts or meet the family’s lifestyle expenses. Life insurance is a crucial tool for providing financial security and peace of mind for your family.
  Is your existing cover sufficient? When it comes to inheritance tax planning, it can be hard to answer the question ‘How much cover do I need?’