Why are people more likely to insure their homes than their lives?

Why are people more likely to insure their homes than their lives?

The Cheapest Life Insurance takes a look…

According to recent figures a third of people would sooner insure their home before they insure their life. With life’s unpredictable nature, are people missing out on something which could be greatly beneficial in the future or should we look to simply protecting our assets?

A report taken during the summer 2012 by Zurich found that although more people thought that life insurance was more important that home contents insurance, life insurance only ranked as fourth in what people actually buy. Let’s take a look at the benefits of taking out life cover and it could be suggested that life insurance can seem far more complicated than it actually as. With various different types of cover, finding the right one for your life style and circumstances is an important part of maintaining your policy preparing for the future in the a way you want.

Life insurance is based around protecting who or what is most precious to you, should the worst happen and you are no longer here. Provided you meet all the criteria in your policy life insurance could: finically protect your family, pay off your mortgage, help you with childcare costs/school or university fees as well as help you to maintain your lifestyle and give you some financial stability. Depending on what type of life cover you choose, the amount of cover and the policy term your plan, your loved ones can receive some large pay outs or at least enough to feel secure.

But is the problem that people want to insure things that they can claim on such as your home, phone and car rather than a policy that will pay after you die-something which many people find a far away and unpleasant thought. Having home contents is something that can probably feel much more relevant to everyday life but would happen if you weren’t here? Would your family be able to stay as they are with your wage? Would they have to relocate? Life insurance may seem like a something that you don’t need to think about right now but surely people are missing out on that feeling of security that comes from when you know will be able to provide for your family, even if you are no longer around? Let’s take a minute to flip this on the head-if you are willing to insure your possessions, should not protect your greatest asset? Your health.

People may be concerned that insuring your life is a far more costly business that insuring your phone or your car but life insurance can be pretty accessible to every budget. You can get cheap life insurance and you can get some great deals. With cover for as little as £5 per month, it’s fair to say it could be money well spent.

Taking a look into life insurance could be a lot less scary and worthwhile than you think…

 

 

 

 

 

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