Life Insurance
DMC Financial Services
Most people aren't thinking about life Insurance in their 20s, but it's often the best time to buy it.
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There are several factors that determine the cost but generally, the younger and healthier you are when you buy a policy, the cheaper it will be. Quite often my clients are surprised at how cheap it is!
Premiums start from £5 per month with most providers.
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At DMC Financial Services we have access to a wide range of Insurers and can help you tailor a policy to suit your budget. We don’t just do Life Insurance policies for our Mortgage Customers, we offer Life Insurance to everyone.
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Its common to think that you don’t need Life insurance if you don’t have a mortgage. In fact everyone should have some protection in place.
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If you don't have life insurance, here are 6 reasons you probably need it:
You're Going to have a Baby
If you're planning to have a baby in the next year or so, now is a great time to buy life insurance. Or if you already have kids you will want to make sure that if anything was to happen that they are financially cared for and their future protected.
You're Planning to get Married
If your soon-to-be spouse relies on your income to live the lifestyle you share, it's a good idea to get life insurance.
Whether you are financially self efficient, having a life insurance policy in place assures they can maintain a similar standard of living if you die prematurely.
You are supporting aging parents Financially
The general rule is that if someone else relies on your income to live, then you probably need life insurance.
You have Debt
When deciding on a coverage amount for a life insurance policy, financial experts recommend including your total debt amounts to ensure whoever receives the money in the event of your death will have enough to pay off your outstanding balances in full.
You Work for yourself / self employed
Life insurance can be incredibly beneficial if you're a small business. If you set up a "Key Person" or "Buy/Sell Agreement" life insurance policy, your employees or key stakeholders will still get paid in your absence. We are able to tailor Business solutions bespoke to your company needs.
Your job is High Risk
Life insurance companies will always consider your occupation when they assess your risk level. Simply put, if you work in a dangerous or high-risk environment, you have a greater chance of dying than someone who sits at a desk all day.