How will your family manage if you are seriously ill, can’t work, or should you pass away unexpectedly?

Providing protection for your family should be the number one financial priority for all of us, yet it is so often overlooked.  Just pause for a minute, and ask yourself how your family would cope with their finances if you or your partner:-

• Couldn’t work for an extended period?

• Were to pass away?

Most of us have some insurance in place, sometimes through work, or often to repay a mortgage.

However, this is often nowhere near enough to allow our families continuation of our current standard of living in the event of illness or death.

For many, life assurance does not cost as much as you might expect… to bring the peace of mind your family is fully protected.

How much does it cost?

For example, James is aged 35 and is married to Amanda aged 33; they want to ensure that their new £250,000 capital repayment mortgage (which is over a term of 25 years) is paid off if either one of them died.  The cost to secure £250,000 decreasing term assurance is an investment of £14.00 per month*

If James and Amanda chose to take out a level term assurance so that they would receive £250,000 on 1st death within the term, the cost of investment would be £22.05 per month*

James also wanted to take out a plan which covered a monthly income benefit of £2,000 per month once his employer stops his income after 26 weeks of being off work.  The cost of this cover to age 66 is a premium of £35.74 per month*

*assumes acceptance on standard rates

As you can see, the cost of providing financial security may not be as much as you expect.  If you would like to review your current financial protection arrangements then please contact your Cullen Wealth consultant.