Life Insurance pays out a lump sum, or even an annual income if you would prefer, when you die. This is important for any joint mortgage, in order to pay off the debt to avoid leaving the joint mortgage holder with a large debt they cannot afford.

Another reason to have a life insurance policy is if there is anyone financially dependant on you. This is regardless of if you have a mortgage or not. Anyone with children should consider Life Insurance. If a parent is left bringing up children alone, they will face either having to find and pay for childcare so they can continue earning, or have the financial security so that they can remain at home with the children and not need to work.

Whatever your reason for considering Life Insurance, it is important to talk to a qualified adviser to ensure your cover is right for you. Higham Critchley Barrows offer advice in this area, and it can often cost you less than you think for that peace of mind.

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