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Let’s talk about death. That’s always hard.

It’s the kind of thing we don’t like to think about. It’s also the kind of thing we can’t help thinking about, especially when we have a family to consider. So why, when the roofs over our children’s heads are at stake, do so many primary earners in families not have life insurance policies?

life-insuranceIt was estimated, in a MoneySuperMarket survey*, that as high as 60% of adults do not have some form of cover. One reason for this could be the belief that these policies don’t pay out. The reality couldn’t be further from the truth, as the Association of British Insurers has found that 97.7% of claims are successful*. In 2014, they also estimated that insurers pay out £9.4 million a day as a result of successful claims*, leaving a bit of breathing space for families to focus on the important things. This knowledge is available to the public, but still so many families are vulnerable to the financial impact of death or illness.

It’s okay, there’s no need to feel guilty. Just spare a minute and think of all the possible ways you could die right now. Now forget every single one of them. Chances are, none of them will happen. Average life expectancy sees people easily living into their 80s, leading rich and fulfilling lives. Cancer survival rates have doubled in the last 40 years. We have eradicated entire diseases, literally removed them from existence, thanks to vaccines. So relax. Life insurance shouldn’t be about death. It should be about giving you the confidence to live now and not worry about the financial wellbeing of your loved ones should you… you know, pop your clogs, kick the bucket, bite the dust etc…

Take a look at a life insurance broker such as Cavendish Online, but don’t be morbid about it. They can cover you in case of death or critical illness and have a variety of policies to suit your situation. In all likelihood, you’ll never need it, but it’s nice to know it’s there. Maybe then you could stop worrying about what might happen and start enjoying what’s happening right now.

*Sources:
http://www.moneysupermarket.com/hubs/life-insurance/life-insurance-survey/
https://www.abi.org.uk/News/News-releases/2015/08/Protection-insurers-help-more-families-than-ever-before-with-350-payouts-every-day

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