Why is life insurance important?

Life insurance is one of the three most common types of protection. 

It’s important to think about if you have people that depend upon you from a financial point of view. 

If the worst happens, you want to know those you love aren’t struggling with money worries because you’re no longer around to help provide for them. 

Leaving a big you-shaped gap in the family can be hard enough without the additional stress of worrying how your family will make ends meet. 

Some additional reasons that this is important could include: 

  • You’ve just got married and want to support your spouse
  • You’re having a baby and you’ll know their nursery fees and cost to raise them is sorted. This can really add up over the years
  • Some policies can be used to contribute towards funeral costs. These can be quite expensive, so you’ll avoid any extra money stress at an already difficult time. 
  • It can be used to cover inheritance tax
  • You’ve just bought a house and/or are still paying off a mortgage, especially if there’s still a long term on it.

Life insurance isn’t the most pleasant thing to talk about. But think of it like a toolbox you might have at home. You hope never to have to use it, but it’s there for you if you need it.  

Octopus Money Limited is an appointed representative of Octopus Investments Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England & Wales under No. 14069098.

Octopus Money is a trading name of TW11 Wealth Management Limited. Registered in England and Wales (No. 10339119). Authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 763630.

As with all investing, your capital is at risk. If you choose to invest with Octopus Money, the value of your investments can go down as well as up and you may get back less than you invest.