A simple question but not such a simple answer because it all depends on your specific needs and circumstances.
Life insurance was created to protect your family (or business), and its number one priority is to ensure that in the event of your death, your loved ones are looked after financially.
Of course it also delivers peace of mind.
What life insurance do I need?
Another good question where the answer is that it depends on what your priorities are.
It’s worth remembering that it’s not only the immediate grief of a lost loved one that can hurt, but also maybe an incomplete legacy left behind.
Emotional turmoil can be compounded by prolonged anguish due to unexpected financial struggles; the stress of loss followed by the anxiety of being unable to provide.
Most people would agree that we can’t see the future, yet many of us don’t prepare for the unknown when we could take simple steps to mitigate future issues if needed.
Life insurance UK
You never think it will happen to you. In the UK for example, the coronavirus pandemic has taken loved once from us before it is was their time to go. Because of this, some may not have prepared for the eventuality in time to protect their families.
Let’s not ignore the grim possibility of a life-altering or life-ending event. You could take steps to mitigate any fallout. As the old proverb goes, plan for the worst, hope for the best.
What life insurance really is the best for me?
To answer this, you need to answer a few more questions such as:
Will your loved ones be ok? Can they afford bills, mortgage payments? After these necessities, can they continue to live in the comfort that you have been able to provide? Do they have the financial capacity to continue with their own lives if they were to lose you? Or would your unexpected departure result in more than just emotional pain?
As scary as it is, perhaps now is the time to implement or review your contingency. Your life insurance.
Life insurance quotes online
Think of life insurance as I’d rather have it and not need it than need it and not have it’ and a good way to start the ball rolling is to go online and do your research.
Again think of it as an investment in the security of your family or loved ones and your own peace mind.
As a last thought, you should consider it is never too late to get insured.
What is peace of mind worth to you?