Millennials – Life Protection becomes more expensive the older you become.
There are statistically five main reasons why people take out Life insurance.
People depend on you so you don’t want to leave your loved ones with financial worries. It’s hard enough for people to deal with highly stressful and emotional situations such as the passing of a family member, but it is further compounded by adding to the financial worries the death of the main breadwinner can bring.
Taking out Life Insurance while you are young – or younger- helps to contain costs and shows the value of having Life Protection in place. The fact is taking out Life Insurance – or indeed any form of Insurance such as Critical Illness, Total and Permanent Disability Insurance– earlier can save you considerable amounts in premiums whilst covering for any unforeseen eventuality.
If there is any debt such as a mortgage, car loans or credit card bills, a good Life Insurance broker will advise what you need to do in order to pay off existing debts and take away the burden from those left behind.
What’s more by talking to a broker as opposed to seeking online options, they will be able to advise you if you have any commitments or liabilities that are likely to run for a number of years, such as School fees, and build in to any policy the facility to cover these costs.
You might not like to think about it but if the worst does happen your life insurance will pay out for any funeral expenses and if necessary any repatriation costs should you be living and working abroad. Again a Life Insurance broker will be able to discuss these requirements with you directly as unfortunately these situations do happen and they occur probably much more than you think.
When people weigh up their current levels of cover, especially if they have Employer Insurance, they quickly realise the cover they have doesn’t necessarily cater for all eventualities. Speaking to a broker allows them to evaluate their true financial needs and ensures that they have all the cover the need to cover expenses, any debts and on going costs such as medical care and so on.
Contact IAE Insure to see how you can save thousands by taking out Life Insurance whilst you are young.
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