Life insurance for parents

Life Insurance For Parents

Family Protection can be well suited to new parents with young children, wanting an affordable way to ensure their dependants are adequately provisioned for.

One off lump sum could help pay for a house and raising the children.

How does Family Protection Work?

Before you buy Family Protection you need to consider the future living costs.

Ideally, this would cover all family living costs, not just now but in the future too.

Then you need to decide how long you require the cover to last, (known as the ‘term‘). Often policyholders ensure the term lasts until their children are financially independent.

Normally this tax-free income is paid monthly, although it can be paid quarterly. This can help with the long-term budgeting of day-to-day living expenses.

To ensure your family protection payments meet your dependant’s needs, both now and in the future, it may be a good idea to link it to indexation

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