3 important reasons to take out life insurance

3 important reasons to take out life insurance

Life Insurance

life insurance

They say a picture paints a thousand words and this picture tells you exactly why you need life insurance… Your Loved Ones.

Everyone’s obligations, priorities and concerns are likely to differ in life. However, when it comes to life insurance, we can all agree on how important it is to know the people you love will be taken care of, even if the worst should happen to you.

To make it easier for you to assess your life insurance needs, here are three important questions to think about.

1. Who do you want to protect? 

Who else depends on you and your income? Do you have any children?

Have you thought about how your family would get by financially in the event of your passing?

Life Insurance is a form of insurance that could pay a lump sum to your family if you die, and this money may be essential in helping you to provide a standard of care for your loved ones or even help with providing an education if you have any kids.

Perhaps your parents are still alive and you may be contributing to their care? Therefore, you might need to consider how these healthcare costs would be paid if you suddenly passed away.

2. What do you want to protect? 

Do you have a mortgage to pay off?

Bank’s insist that you take out a life insurance policy because it assists in clearing your mortgage and helps in paying back the money you borrowed after you are gone.

Even If you don’t have a mortgage, there are probably other assets that you want to protect such as your car, land, investment properties, etc.

3. Have you thought about leaving anything behind?

Perhaps you would like your legacy to be that you helped someone live more comfortably after you are gone. Life insurance can help you do that.

> Life Insurance at Murray & Spelman (Financial Services) Ltd:

There is a lot to think about when it comes to life insurance and we can help you. Comparing life insurance providers is easy with Murray & Spelman (Financial Services) Ltd.

Our Financial Advisors are always happy to have a chat to discuss your circumstances and individual concerns.

You can request a call back on our website or contact our Galway Office on 091 759500 or our Kildare Office on 045 888088. We look forward to hearing from you.