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The Life Insurance Market

Thursday, February 28

Protection tips for Mother's Day @ 09:46 AM

On the 2nd of March all of us will show appreciation for our mothers. A mother needs to protect her family, whether she is a working mother or a stay at home mum. There are a number of policies that a mother can have in place to ensure her family is well protected, should anything happen to her.
The most important of these is an Income Protection policy, this will pay a tax free monthly income if she falls ill and is no longer able to provide or look after her family. All of us should have an Income Protection policy, above all others.
If taking out Life Insurance, where the policy pays out a lump, it is advisable this is taken as a single life insurance policy. A joint life insurance policy will pay out in the event of first death and the remaining partner will be left without any life insurance. So it makes sense for each partner to have their own policy, especially if they have children. This will mean a double payout should anything happen to both parents. What most people don't realise is two single policies are often only £4 more expensive, so well worth considering!
Relying on state benefits is not feasible, not these days. So every parent should take out some form of life insurance to protect their family against the worst. -- 2 comments: View - Post your own comment

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