I'm 30 years old,single, i have 1 child, so do i need life cover? I have no morgage
SimplyFinance Answers is a great place to start your research, but it is not a substitute for personalised, professional
like to speak to an expert directly, use our Adviser Search to find an adviser in your area and contact them directly through SimplyFinance.
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
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.
This site is not associated with any of the companies you see on this site or any of the companies who make contact after you complete the form
Our intermediary activities are operated through Lead Point UK Ltd who is authorised and regulated by the Financial Services Authority (FSA No: 476785). Our Consumer Credit License is 0630670
We do not provide any financial advice relating to mortgages or other credit or Insurance products. The product information is obtained from independent sources and rates may vary depending on your circumstances. We provide our service free of charge but we sometimes receive commissions from IFA's, brokers and intermediaries for introducing you to them. These partners may charge you fees for their services and the amount may depend upon your circumstances.
The content of this site is meant to be informational, and it should not be considered financial advice.
Your details will be sent to a provider who will contact you to discuss your requirements. Occasionally Simply Media Network or selected partners will email you details of products that you may be interested in, if you wish to stop receiving these emails just click the unsubscribe link or email us at email@example.com.
Give feedback -Your comments matter. You can either write to firstname.lastname@example.org or, at our Registered address: Customer Care, Simply Media Network Ltd, 48 Charlotte Street, London, W1T 2NS
This site is owned and operated by Simply Media Network Ltd. Company Registration number: 06770502