Essential Insurances to Keep Your Family Protected

Essential Insurances to Keep Your Family Protected

Although it’s not a nice thing to think about, it is vital to make arrangements to protect your family should something ever happen to yourself or your partner. This should go beyond giving consideration to whom you might appoint as guardian in your will in case of death. Did you know there are also various types of insurance you can take out that will provide additional protection to your family? In this article, we will cover a few of the essential insurances on the market to keep your family protected in all types of situations and events, from falling ill to burglary.

#1 Life Insurance

It’s horrible to have to think about what might happen after you die, but at the same time life insurance could give you peace of mind should the worst ever happen to you and your family as you know they will be taken care of financially. Although no sum could ever make up for a person’s life, the money gained from life insurance can help lessen the burden on those left behind as it can be used to deal with debt or funeral arrangements. Obviously, the lump sum money from life insurance can also be used to help support your children and partner financially if there is no debt to consider. There are many comparison tools and helplines that can help you narrow down what life insurance policy is right for your family.

#2 Income Insurance

Income insurance covers you in case you are unable to work due to sickness or a disability. With the insurance, you will still be paid a regular income even if you can’t work. Although you will not be paid out your complete wages, income cover can provide you with up to two-thirds of your original income before you were forced to stop working. When you have your family depending on you and your salary, this type of insurance can provide a buffer and relieve some of the stress that accompanies being off work due to unforeseen circumstances. This is particularly relevant if you are self-employed as you will not be able to claim statutory sick pay. Insurance companies like offer income insurance and are always more than happy to help clarify any part of the policy you might be struggling with. They will be able to help you determine what cover you might need and at what premium to ensure you and your family will not be dealing with financial difficulties, should you ever fall ill.

#3 Contents Insurance

When you own your own home, you are legally required to take out buildings cover. This type of insurance will cover you should your home ever be damaged by storm or fire. However, contents insurance is not a legal requirement but should never be skipped, whether you are a tenant or own your own property. Contents insurance comes highly recommended as it covers your personal property in the event of fire or burglary. This includes items such as clothing, furniture, your electrical goods, and jewellery. You can also arrange additional cover for gadgets such as laptops and phones that you take outside of your home – this type of cover is becoming more and more relevant as phones are becoming more luxurious. Having to replace your latest iPhone or tablet will be a very expensive exercise if it was uninsured. Think about all the possessions you would have to replace for yourself and your family if there is a fire in your home or it is broken into – without insurance, it is an insurmountable task that will cost a lot of money. Contents insurance can help protect your family in the worst of times and will be a lifesaver if your toddler ever wonder whether your tablet can swim.

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