I'm 30 years old,single, i have 1 child, so do i need life cover? I have no morgage
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kimturton
1 year ago
zafarimran
answered 1 year ago
well its always good to get life cover as it protects your family in case you are no more. Kindly contact me for more discussion on 07545321393
Regards
syed imran
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Regards
syed imran
Expert Financial Adviser Answer
Richard Ellis
answered 1 year ago
It makes good financial sense to have a disaster plan in place. This could be an emergency fund for when unexpected bills come in or it could be income protection to protect your income if you are unable to work for an extended period due to illness. When it comes to life cover, consider who would look after your child in the event of your death and the likelihood of that relative/friend being able to financially support your child until the child is no longer financially dependent.
Whilst you may not have a mortgage liability you may want some cover in place to ease the financial burden on the guardian of your child should you die. You should also have a will in place if you have not drafted one or had it reviewed since the birth of your child. All of this depends of course on your budget to provide any protection.
Please contact me for further discussion and assistance
Kind regards
Richard Ellis DipPFS
07557036555
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Whilst you may not have a mortgage liability you may want some cover in place to ease the financial burden on the guardian of your child should you die. You should also have a will in place if you have not drafted one or had it reviewed since the birth of your child. All of this depends of course on your budget to provide any protection.
Please contact me for further discussion and assistance
Kind regards
Richard Ellis DipPFS
07557036555
Expert Financial Adviser Answer
Payam Azadi
answered 1 year ago
HI the answer is Yes you need Life cover but you dont have to get it... I will be more then happy to have a chat with you and give you free advice.
You can call me on 02079932044
Thanks
Payam
www.nicheadvice.co.uk
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You can call me on 02079932044
Thanks
Payam
www.nicheadvice.co.uk
Expert Financial Adviser Answer
Paul Skinner
answered 1 year ago
Hi Kim,
I realise this is a old questions, but I have only just seen it.
If you have children, I would always recommend life cover. I would also strongly recommend that you write a will. As part of the will, you would normally assign a guardian to look after your children if you die. The life cover can be used to provide an income to the guardian to help them bring up your child.
A simple family income benefit policy, written in trust for the benefit of the child, with the guardians as trustees would ensure the money goes where it is most needed while your estate is being wound up.
Kind regards
Paul Skinner
PKS - Mortgage & Insurance Experts
T: 03332 407040
E: paul.skinner@pks.org.uk
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I realise this is a old questions, but I have only just seen it.
If you have children, I would always recommend life cover. I would also strongly recommend that you write a will. As part of the will, you would normally assign a guardian to look after your children if you die. The life cover can be used to provide an income to the guardian to help them bring up your child.
A simple family income benefit policy, written in trust for the benefit of the child, with the guardians as trustees would ensure the money goes where it is most needed while your estate is being wound up.
Kind regards
Paul Skinner
PKS - Mortgage & Insurance Experts
T: 03332 407040
E: paul.skinner@pks.org.uk