First of all, you need to establish why it is you need life assurance. Below are a few scenarios which might ring true for you:
Leaving a legacy: life assurance is a good way of providing your loved ones with inheritance money when you pass away.
Providing peace of mind: Having a life policy in place, reassures your family that they can remain financially secure after your death. It can help them cover everything from living expenses to paying off a mortgage.
Funeral costs: A life assurance payout can help out your loved ones with the funeral costs, providing them with a lump sum.
Inheritance Tax: It can help your family deal with any bills associated with IHT.
As a result, many families are forced to take out loans just to cover this bill, which at an already upsetting time, may be particularly stressful. A whole-of-life insurance policy could help avoid this issue. The payout would provide the funds required to clear the inheritance tax bill without your loved ones needing to take out a loan or go into their own savings to cover it. This though, is reliant on the policy being written in trust.
Whole-of-life cover may also appeal if you are determined to leave some form of inheritance to your loved ones, or if you want to help with your funeral costs.
Many people who have a life insurance policy in place tend not to review it very often, however, it’s important to understand if the policy still meets your needs (as well as finding cheaper life insurance) - that’s where Cavendish can help.
The amount of life assurance that you need really depends on your personal circumstances and what you’d like to leave for your family.
There really are no rules around what your life assurance payout can be used for and therefore how much insurance you need, it’s more a case of thinking about your personal situation. Of course, the more things you want to support your loved ones with, the larger the cover you will need.
Now we’ve hashed all the daunting details out and you’ve done your homework, it’s time for you to finally get yourself covered!
At Cavendish Online, there are a couple different options to help you find the best policy for you. You can either get a quote yourself, which takes just a few minutes of your time; just complete this form here.
Or, if you want some human interaction, you can choose to speak with one of our specialists over the phone, who are extremely friendly and will be able to help you choose the best cover for you and your loved ones.
Call us on 01392 241 850 to reach one of our helpful consultants, and tick another task off of the ‘to-do’ list!
If you have purchased your whole life insurance policy via Cavendish Online, then there will be no cash-in value, as we do not offer investment products.
If you have an investment product that you purchased elsewhere, it may be possible, but you should talk to your provider directly as we are not authorised to discuss them with you.
The insurance products offered by Cavendish Online have no cash-in value at any time. If you stop paying your premiums your cover will stop, your policy will end, and you will receive no benefit.
The insurance products offered by Cavendish Online have no cash-in value at any time. If you stop paying your premiums your cover will stop, your policy will end, and you will receive no benefit. If you have not claimed before the end of your chosen policy term, the policy will end, and no benefit will be paid.