Ipswich Financial Adviser

Life cover can be a very useful protection policy should the worst happen. It would ensure a debt is repaid or there is money available for your dependants.

What you may not be aware of is that life cover can be set up not only to pay out a lump sum but can be set up to pay out a regular amount each month. The lump sum payment is useful to pay off debts in one go, however, the regular income payment can be very useful to financial dependants as it gives them a known income each month. This may be preferable to a lump sum as people often don’t know what to do with such a large sum of money. If they receive a regular known income, this can be a more certain way of knowing your dependants are well looked after should the worst happen.

As always, it is a great idea to seek professional help when organising your protection needs to ensure you get the right cover for you and your family.

If you want any help or advice with regards to your protection please contact Thompson Financial Consulting