Where Should I Start
Firstly we would always look at the main breadwinner.
There are a number of different policies that can cover a number of different events, these can all be set up over varying terms for varying amounts with differing additional benefits.
Your start point is to understand that you do need to look thoroughly in to insuring yourself and your family. Then you can let your Regal Finance expert guide you through to the best solution within your budget.
Who Needs to be Protected?
Firstly we would always look at the main breadwinner. However, quite often a house person will be overlooked.
Their contribution to the family cannot be undervalued. Their loss through illness or death will have deep financial consequences as well as the emotional ones. Carrying out every day home tasks and bringing up children is a very valuable role. It would cost up to £31,6271 to replace a stay at home parent.
Children can get ill to. The majority of Critical Illness plans that we recommend will come with an element of children’s cover automatically included within the plan.
How Much Do I Need?
This is a very difficult question to answer, and requires an in depth analysis of your current situation and to understand what your priorities are. It may be that you would like to ensure your mortgage is cleared upon death or diagnosis of a critical illness. It may be that your preference would be for your income to be replaced until your children are no longer dependent.
All scenarios require careful planning and assessment with your Regal Finance expert.
Have a look at the different types of cover available to yourself or give us a call.
1. Research carried out on Legal & General’s behalf between 18th and 25th January 2013
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