According to Staffordshire County Council, in 2017 the population of Lichfield was 103,000 and over 5,000 of the population was aged under 4 years old. That’s a lot of children and therefore a lot of parents who will be looking to make sure their youngsters are financially provided for if the worst was to happen. That’s where life insurance for Lichfield residents could help.
There is no such thing as a one-size fits all, so it is prudent to get advice from professionals on all financial matters for your specific requirements. This is because there are a wide range of policies available and different types of life insurance for Lichfield inhabitants to be aware of.
The three main types of policies that are often recommended are, level term life insurance where the cover remains constant throughout the term of the policy. Then there is decreasing term insurance, where the level of cover reduces in line with say the outstanding amount of your mortgage. And the third kind is whole-of-life, which as the name implies doesn’t usually have an end date so you pay premiums until you die and then the policy pays out. Many people buy life insurance in Lichfield to protect their families and often this is at the time they take out a mortgage.
If you are looking to provide a financial safety net for your children whilst they are growing up, or to cover your mortgage which is typically 25 years, then term insurance could be most appropriate, but this does of course depend upon your individual circumstances.
If you are looking for life insurance in Lichfield, you could talk to one of our qualified Financial Advisers who would be delighted to speak to you about life insurance in Lichfield, at your home or our offices. Your first meeting is at our cost and you are under no obligation following this meeting.
Your home may be repossessed if you do not keep up repayments on the mortgage.
This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk