Could your children live the life that you would wish for them if their financial needs have to be met on one income?
Whenever there is someone else depending on you for support, their lives will change dramatically if that support were to suddenly disappear. And no-one depends on you more than your kids.
If you died unexpectedly, for how long would the financial obligations such as rent payments, mortgage payments and living expenses be covered?
Could they continue at the same standard of living on just your partner’s income?
Would your partner be able to maintain their lifestyle? How would they fund childcare? What about future commitments, such as university costs?
How you can protect them:
With the right financial protection, you can provide the lifestyle you would wish for your children in the event of either you or your partner not being around.
Your family could maintain their standard of living and your kids will benefit from the provision you put in place.
No one wants to think of negative outcomes for their children. A well thought out Life Insurance plan can provide an immediate lump sum and an ongoing income giving you the peace of mind that they will be provided for if you pass away.
What if you or your partner becomes too sick to work?
A critical or long term illness can impact your finances because you might have additional care needs and might lose an income for a period of time. If you have children, this could put a burden on your partner who will now face the pressure of paying the mortgage and the associated costs at a time when your household income has reduced. The pressure on a bread winner to return to work can also be great at a time when they should be focusing on recovery.
Real Life Advice can help by providing a cost free analysis of your current and future financial protection needs.
Call us for a free, no obligation consultation with one of our expert Protection Advisers.