*Price based on a non-smoking 32 year old male insured over 10 years for £85,000 of cover on a level term policy, postcode CF10 1PZ. Prices correct on 14.01.11.
Medics Life Insurance
We have all heard of life insurance and you may well have a policy linked to a mortgage or pension scheme but is there more to it?
Life Insurance, also known as life assurance, will pay out a sum of money if the policy holder dies. Read our guide to life insurance to find out how to select the best policy for your needs.
What will happen to your loved ones after you die? Will they be able to support themselves? Can your spouse manage the mortgage payments and ensure your children are able to attend university?
Arranging life insrance cover is the best way to ensure your family is taken care of in the event of your death, giving both you and them peace of mind.
Why do doctors need life insurance?
Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. It can help to support your family after you die.
Among the many reasons to take out life insurance, these are examples of the most common:
- Mortgage repayment – do you wish to arrange for your mortgage to be paid off in the event of your death?
- Replacing the primary earner’s salary – ensuring the family does not fall on hard times after your death.
- Replacing childcare – the death of the primary childcare provider could lead to the need for childcare expenses.
- Education expenses – cover for the provision of school/university fees after the death of the primary earner.
Whether it’s about not leaving your debts behind or ensuring your family can maintain the standard of living to which they were accustomed, it’s clear there are plenty of reasons to look for the best life insurance policy for your personal circumstances. Getting the best quote is an important part of finding the right policy. If you have any questions about how life insurance policies work you may want to refer to our frequently asked questions about life insurance.