How much life cover should I have?
Consider taking financial advice to make sure you’re buying the right level of cover and the policy is suitable for your needs. These are some questions you should ask:
- Do you just want to cover your mortgage or are there
other debts that’ll need clearing as well?
- Will your family need an income too, or will a lump sum allow them to clear all debts and live comfortably?
- If you need income, would a lump sum that can be invested for income or monthly income payments be a better alternative?
- Do you want the policy to cover:
- just you,
- just your spouse or partner,
- or both you and your spouse or partner? If so, do you want it to pay out on the first death or the second?
- Even if you can’t afford as much as you would ideally
like, you or your financial adviser may consider that
some protection is better than no protection.
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