What happens to your family if you die?
Raising a child doesn’t stop at cute baby knitwear, cuddly toys, nappies, clothes, and a pram.
For at least the first 18 years, it’s a commitment and for some, a lifelong commitment.
In what way?
Consider this. If you die, how will your family manage? If they are grown up and in good health with a good job and can support themselves – all is well and good. But if they are younger and you are the main provider, what happens then?
The cost of raising a child from pregnancy to the age of 18 is just over £200,000. If you choose to send your child to public school, the cost will significantly increase. This can extend to over £300,000 depending on the choice of your activities, schooling and material goods1.
Why life insurance is a must-have
How would your partner cope if you were to die? On top of the grief and upset, adding financial pressure could be disastrous for both the surviving parent and your children.
Life insurance may be something you see in an advert on the T.V. and think it’s only for other people; it won’t happen to me. But it does happen. Making sure your home is safe or there is enough money to look after your children the way you want, is not just about working hard, it’s about planning for the future, both good and bad.
Unless you have a huge amount of savings of between £160,000 to £200,0002 for each of your children, taking out life insurance is a wise move. It will ensure your loved ones are financially stable and give you peace of mind.
Why us?
While some companies are just interested in selling you a policy, we go the extra mile.
Our Independent Financial Advisers have access to a vast number of policies. They’re like your own personal ‘Google Search’. But they also have years of experience to draw from as well.
They’re experts in taking you and your lifestyle into account; finding the most effective policy for you. It won’t be off the shelf and generic, and it will be designed to address your individual needs. They will go through the terms and conditions of your policy with complete transparency, so that you can stay in the picture in how your family can benefit from the cover. You and your loved ones can then make informed choices as to how you’d like your policy to be.
Contact us
Don’t leave your family’s future to chance. Be prepared.
Book an appointment with an Independent Financial adviser now.
Email: info@lloydwhyte.com
- https://www.themoneypages.com/household-bills/much-cost-raise-child-18/
- https://cpag.org.uk/policy-and-campaigns/cost-child
Lloyd & Whyte (Financial Services) Ltd are authorised and regulated by the Financial Conduct Authority. It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding of taxation and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only. We cannot assume legal liability for any errors or omissions it might contain.
