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forces insurance

Life insurance for forces personnel

Peace of mind in knowing that your family are protected is something we all wish for. Especially when your job role could be dangerous.

It is understandable to not want to think about what life would be like without you. People are pondering more and more with what has happened over the past year.

It is important to be organised and protect the things that really matter – like our loved ones, our home and lifestyle in case the unexpected happens.

There are so many reasons we should really think about protecting ourselves and our families future.

 

Below are just a few reasons –

 

Financial security

It may be the case that that not everyone needs life insurance.  If your spouse and children, partner, or other relatives depend on your income to cover the mortgage or other living expenses, then it will be something you should consider.

This cover will make sure that your family are taken care of is you were to die. Not a nice thought but once done, you will feel peace of mind knowing your family will be ok financially.

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Life insurance provides a safety net for your family and loved ones, helping them cope financially during an otherwise difficult time. Ultimately, it offers reassurance that your family would be protected financially should the worst happen.

 

Premature death

Being a soldier it comes with the territory. The appropriate level of life insurance will enable your dependents to cope financially in the event of your premature death.

When you take out life insurance, you set the amount you want the policy to pay out should you die – this is called the ‘sum assured’.

Even if you consider that currently you have sufficient life assurance, you’ll probably need more later on if your circumstances change. If you don’t update your policy as key events happen throughout your life, you may risk being seriously under-insured.

 

Think about –

Who are your financial dependents: your husband or wife, registered civil partner, children, brother, sister, or parents?

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What kind of financial support does your family have now and also in the future?

What costs will need to be covered, such as household bills, living expenses, mortgage payments, education costs, debts or loans, or funeral costs?

There is no one-size-fits-all solution, and the amount of cover – as well as how long it lasts for – will vary from person to person.

 

Here are some events when you should consider reviewing your life insurance requirements:

  • Buying your first home with a partner
  • you work within a dangerous industry
  • Covering loans
  • Getting married or entering a registered civil partnership
  • Starting a family
  • Becoming a stay-at-home parent
  • Having more children
  • Moving to a bigger property
  • Salary increases
  • Changing your job
  • Reaching retirement
  • Relying on someone else to support you
  • Personal guarantee for business loans

 

Individual lifestyle factors determine the cost of your insurance

The price you pay for a life insurance policy depends on a number of factors. These include the amount of money you want to cover and the length of the policy, but also your age, your health, your lifestyle and whether you smoke.

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As a soldier your roll within the Military will also be taken into account.

Replacing at least some of your income

If you have a spouse, partner or children, you should have sufficient protection to pay off your mortgage and any other liabilities. After that, you may need life insurance to replace at least some of your income.

How much money a family needs will vary from household to household, so ultimately it’s up to you to decide how much money you would like to leave your family that would enable them to maintain their current standard of living.

 

If you are looking to speak to someone that understands the military lifestyle then give us a call today – 08081 551 807

Or book in to talk to one of our knowledgeable advisers HERE

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