top of page

It’s time to think about life insurance

Sophie Foreman

It’s time to think about life insurance


If you have dependents – people who rely on you financially – then you should have life insurance. In fact, if you have dependents and don’t have life insurance, you are exposing them to grave financial risk.


And who would want to do that?

Life insurance tends not to feature on ‘to do’ lists because it makes us confront uncomfortable questions, such as what would happen to our loved ones if we were to die unexpectedly in the next few years.

However, we all carry a deep responsibility to ensure those we leave behind at least have sufficient funds to carry on with life if we’re no longer around. That means putting plans in place to address unpleasant possibilities.

Types of life insurance There are two main types of life insurance. The one most people need is ‘term’ insurance. This pays out if the policyholder dies within a stated period – the ‘term’. The other type – ‘whole of life’ insurance – pays out on your death, whenever that occurs. This is more of an investment vehicle th


an a financial protection plan and is typically used for estate planning.

Dealing with debt Term insurance pays out money that can be used to clear debts such as a mortgage, lifting a huge financial burden and enabling your loved ones to stay in the family home. It can also provide for day-to-day living


expenses – everything from groceries to utility bills, and from school and university fees to family holidays.


9 views0 comments

Recent Posts

See All

Comments


Follow us on facebook 
Approved by The Openwork Partnership on 05-12-2024

Woldingham Financial Services Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. Openwork Limited, Openwork Market Solutions Limited, Omnis Investments Limited and Openwork Wealth Services Limited are separate companies within the Openwork Group.  Openwork Market Solutions Limited is a company registered in England and Wales with a oompany registration number of 03799465, registered office Auckland House, Lydiard Fields, Swindon SN5 8UB

 

Openwork Limited is authorised and regulated by the Financial Conduct Authority, registered in England & Wales under registered number 04399725, Registered office Auckland House, Lydiard Fields, Swindon SN5 8UB

 

Omnis Investments Limited is authorised and regualted by the Financial Conduct Authority, reigstered in England & Wales under registered number 06582314, Registered office Auckland House, Lydiard Fields, Swindon SN5 8UB

 

Openwork Wealth Services limited is registered and regulated by the Financial Conduct Authority, registered in England & Wales under registered number 10266077, Registered office Auckland House, Lydiard Fields, Swindon SN5 8UB

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers in the UK.

Woldingham Financial Services is a registered company at Stac Pollaidh, Southfields Road, Woldingham, Caterham, Surrey, UK, CR3 7BG. The company number is 07409560.

bottom of page