Life Insurance for families
How life insurance could help your family
The reference to life insurance protecting your family stems from the added financial security that a life insurance policy can provide for your loved ones. You can be reassured that your family will be taken care of and are able to cover all or any of your financial obligations and responsibilities.
Life cover doesn’t directly provide cover for your family, but will protect you and give you peace of mind that your beneficiaries don’t have to worry in the event of your death.
To give you a better idea of how a Beagle Street Life Insurance policy may be the right choice for you, take a look at this example.
A family of two parents, aged 35 and one child have an average household income of £40,000 per year and a £2,500 monthly spend on mortgage repayments, food and care for their child. If one parent takes out a single policy then passes away, their family could receive up to £750,000* which could be used to cover the household finances.
*Amount dependent on level of cover set on initial application
What can my family use my life insurance payout for?
- Mortgage repayments / clearing the mortgage
- Children’s school fees
- Funeral costs
- General day-to-day costs such as travel and food
What’s the best type of policy for my family?
Level Term Insurance
Decreasing Term Insurance
Critical Illness Cover
With added Critical Illness Cover, you will receive a lump sum pay-out if you were to be diagnosed with one of our listed illnesses. This payout can be used as you wish, for anything from specialist medical treatment to supplementing your income whilst you are not able to work.
Protecting your children with added critical illness cover
Critical illnesses can affect people of any age, and children especially can often need additional support or care in the event of a serious illness. If your child is diagnosed with any of our listed Critical Illnesses, you can receive a lump sum pay-out that can be used for anything you wish, from potentially lifesaving medical treatment or a change in lifestyle to help support their recovery.