Independent Wealth Management

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The cost of Life Cover

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.

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Barry has been providing me with excellent financial advice since 2003. He has simplified and consolidated a number of pensions that I had started with various organisations through different employers over the years to one pension – making it much easier for me to have a clear view of my investments and know where I stand. I receive regular, easy to understand updates, with Barry providing the added value of explaining what it all means and offering advice on actions to take. Barry ensures that he keeps current with my financial and personal circumstances and is able to adapt and make excellent, informed recommendations quickly and clearly. I would highly recommend Barry and Professional Wealthcare for your financial management solutions. He is now responsible not only for the planning of my financial security, but also for that of my children.

Jill Wells