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According to the statistics in 2011, 61% of UK families do not have any life insurance policy covering them. 20% of the said families said that the reason why they do not have it because they cannot afford it when they buy life insurance. For those that have insurance policy, 93% of them feel that the financial protection provided to them does not suffice. Moreover, 87% do not even have any cover on critical illness. However, this could be because it is either too expensive or too complex. Some people even think that it is a mere additional cost, rather than an investment, aside from their day to day expenses. Hence, they would rather use the money to buy basic things they need. Nevertheless, a paradigm shift should be made. This is because no matter what our status is, we need to be protected, most especially if we are the bread-winner of the family. This is because an affordable life insurance is now available too. Protecting Your Income If for some unfortunate reasons, like an illness, disability or injury, made you unable to work, getting insured is a great help. Through income protection insurance, you would be able to replace a portion of your foregone salary. The compensation is tax-free. You could use it to pay your bills, mortgage, as well as help you on your medical expenses while you are recovering. Hence, you do not have to feel that you are a burden to your family when you suddenly cannot financially contribute. Getting a Serious illness insurance No one knows when sickness will strike us. It is in this light that being insured is a good financial preparation for this. Hence, you do not have to worry about the expenses when it unfortunately happens. It is also a good investment to buy critical life insurance while you still have the capability to do so. In this regard, young professionals are even encouraged to have this one already as early as possible. There are also some policies that will also include retirement plants and the like. Insurance for Whole of life You can also get covers, not only for income protection and critical illness. Instead, you may want to insure your life as a whole. Hence, no matter what happens to you, your family will not worry about taking good care of you. In other words, you will not be a financial burden. You can even get the cheapest life insurance for this as early as now. It is best to start early so that the returns would be bigger when the time comes that you need it. About author This article written by Junia Thomas behalf of Pruprotect.co.uk. Pruprotect provide best life insurance policy for you and your family. To know more about affordable life insurance policies then visit www.pruprotect.co.uk
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According to the statistics in 2011, 61% of UK families do not have any life insurance policy covering them. 20% of the said families said that the re,
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