Life Insurance (Types of Life Insurance)

Leaving your kids behind probably isn’t something you think about very often, and rightly so. However, it’s important that you think about it for long enough to put some form of life protection in place, just in case something does happen. Life insurance can provide financial help for your family, giving you peace of mind knowing that your children can carry on living the life you expected them to.

Protecting your family is one of the fundamental parts of being a parent. You no doubt already insure your car and the contents of your home, so why not also insure one of your family’s most valuable assets; you.

By taking out the right kind of life insurance, you can protect your family’s future if you were to pass away or become very ill. 

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Why do I need life insurance?

Unfortunately, life has a funny way of throwing a curveball every now and again. While no one likes to imagine a time that they won’t be around to look after the family, what would happen if you weren’t able to support your loved ones?

If you were no longer around, would your family be able to cope with the financial impact? If your family would struggle to pay for things like the mortgage, childcare or school fees and everyday living costs without you, then you need life insurance.

A family facing the loss of a loved one and financial strain can be heart-breaking, but if you could help to relieve that financial stress through life insurance, it could make the emotional journey that little bit easier to deal with.  

The proceeds from your life insurance policy could be used towards a number of important financial obligations, such as the mortgage, bills and everyday living costs. Essentially, life insurance is a safety net for your loved ones.

How does life insurance work?

If you’ve never taken out life insurance before, it can seem a little confusing and time-consuming, which isn’t ideal when you have kids to look after. There are many different types of cover, each with its own benefits to suit your individual circumstances. At Busy Bee, we can help to protect your family by providing a helpful and safe place for families to get the right quote for the right policy. 

Life insurance cover is paid for monthly, known as a monthly premium. This figure is based on a number of factors about your lifestyle and health, as well as the pay-out amount. When you pass away or become ill, depending on which policy you have taken out, the policy will pay out providing everything in your application was accurate. Your policy may expire within a set period of time; if you do not pass away during this term, there is no pay out.

What are the types of life insurance?

Each type of life insurance has been designed to meet a different need, so rest assured there is a policy to support your family. The most popular forms of life insurance are term-based, including level term and mortgage life insurance. These policies last for a fixed period of time and can help to pay important bills and mortgages.

There are also life assurance policies that can cover whole of life and those aged over 50. This type of cover is known as life assurance as a pay-out is guaranteed. So, even if you started a family a bit later in life, you can relax knowing you’re still able to protect your loved ones.

If you’re looking for protection for your income or to offer financial help due to illness, we can help you find a tailored policy for your needs. Family income protection and critical illness cover can help if you are hoping to protect your family from any unforeseen circumstances in the future.

At Busy Bee Life Insurance, we can help you find the most suited cover for your situation at a fair price, saving you a job. We don’t use robots to process your queries; you’ll deal with a real human who can offer advice and help you make the right choice.

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