Life insurance is a vital component of financial security. In the unfortunate event of a policyholder’s death, it provides a lump sum payment to beneficiaries that can cover funeral expenses, replace lost income, and settle outstanding debts, including mortgages, car loans, and credit cards. This protection is especially important for those with young children, homeowners with mortgages, and business owners who wish to leave a lasting financial legacy.

Life insurance ensures your dependents are financially secure, allowing your family to maintain their standard of living during a challenging time, and alleviating the burden of financial concerns as they navigate their grief.

Life Insurance is usually something that people save for tomorrow, but anything can happen that can have a negative impact on your premiums or level of cover, such as your age, financial situation, illness, or accidents. The sooner you have appropriate cover in place, the more secure you will feel and the more control you will have.

According to the Association of British Insurers (ABI), the UK protection insurance market paid out an impressive total of £5.7 billion in claims in 2019, which included £1.6 billion for critical illness cover and £2.1 billion for life insurance.

Despite this, research from Royal London reveals that only 35% of UK adults have life insurance, leaving a significant number of individuals and families financially exposed in the face of a serious illness or untimely death.

If you’re interested in exploring your life insurance options, our Financial Planner, Anna Gooch*, is available to review your needs and help you find the right insurance provider for your situation. Don’t wait until it’s too late—take the first step towards securing your loved ones’ financial future today.

 *Adams and Bowles Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management Plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at www.sjp.co.uk/products.

The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place.