When taking out life cover, cost is inevitably an important consideration. Most people I meet have no idea of how much life cover they can afford. This lack of knowledge generally results in putting off this very important aspect of financial planning.
Aside from the obvious grief, the death of a spouse or parent (particularly a breadwinner) will usually have a significant financial impact.
I though it would be useful to provide some simple examples of the monthly cost of providing joint cover of £100000 to protect Mr & Mrs Non-Smokers over a 20-year term, based on the following ages:
Age 30 £8.76
Age 40 £17.46
Age 45 £27.07
Age 50 £43.86
Unlike some life cover, the above examples are based on ‘Guaranteed’ premiums. This means that your premiums will never go up.
Cover for just one person reduces the monthly cost.
If you would like to make sure that your family are adequately protected or if you would like a personal quotation, please contact Barry Sears on 01276 517700, who would be delighted to help you.
The above examples are based on current rates. Source: The Exchange 25/06/2009.
