When it comes to protecting you and your loved ones, who can determine how much protection is required to support both yourself and those closest to you, especially when help is needed at the most crucial time. Your adviser can provide you with an in depth knowledge of different providers in the market place, they can be your educated guide to what is right for you and work within your budget. Comparison sites are price driven, but is cheapest always the best when there are such a vast number of providers offering varying types of cover? You may want to cover your mortgage and other commitments in the event you were to pass away, but what if you were to suffer an illness? How long could you realistically maintain your lifestyle and meet your mortgage/rental payments and or other commitments if your income were to stop due to illness or injury? Life cover may be relatively cheap in comparison to critical illness cover or income protection, but whilst this is important, the likelihood of you suffering an illness during your mortgage term is statistically more likely than you passing away.
Source: Royal London 2020 risk report. 40 year old female non smoker. 4% chance of dying compared to 48% chance of a being off work for 2 months or more due to illness or injury before reaching a retirement age of 68.
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