It's something that many people don't think about these days, the need for life cover.
I bet if you asked 100 people if they had any, the chances are that most of them wouldn't.
And If you were to ask the same 100 people when the right time to get it was, they'd tell you "When you're ill".
As some of you will know, this is the absolute worse time to apply for life cover.
If you're already sick, companies that will normally cover you will either bump up the price or not cover you at all.
If you seem more likely to pass away then a fully healthy person, you're more of a liability to the cover companies.
Even though they can help you financially in times of need, they are still a business that need to make a profit.
So when is the right time to apply for life cover? Well, now.
Those that are fit and healthy are much more likely to get accepted for cover, and as we never know what tomorrow holds in store for us, it's better to be safe then sorry.
Before we go any further, let's have a quick look at what life cover does: it helps protect your family or loved ones in case of a death.
If the person that's covered by life cover happens to die, another person or people that are stated in the cover are paid a lump sum of money.
This money can be used as required, many people choose to use it for the funeral and for living costs.
But who needs this cover, and why? I feel everyone does, especially those that have anyone in anyway reliant on them.
If you're a parent, carer, or have a partner who you share expenses with, your death would mean a significant burden would be put on the people you leave behind.
As well as having to deal emotionally with your death, they'll have to deal with any financial issues you leave behind.
That may include paying rent, paying off a mortgage, any credit card debts, and more.
Add to that the cost of sorting the funeral and paying off anything you had previously bought on credit, things can get very expensive very quick.
Putting aside a little bit every month towards life cover isn't going to break the bank, but having the peace of mind that you and your family are covered in case of the un-thinkable happening is more then worth the cost.
I bet if you asked 100 people if they had any, the chances are that most of them wouldn't.
And If you were to ask the same 100 people when the right time to get it was, they'd tell you "When you're ill".
As some of you will know, this is the absolute worse time to apply for life cover.
If you're already sick, companies that will normally cover you will either bump up the price or not cover you at all.
If you seem more likely to pass away then a fully healthy person, you're more of a liability to the cover companies.
Even though they can help you financially in times of need, they are still a business that need to make a profit.
So when is the right time to apply for life cover? Well, now.
Those that are fit and healthy are much more likely to get accepted for cover, and as we never know what tomorrow holds in store for us, it's better to be safe then sorry.
Before we go any further, let's have a quick look at what life cover does: it helps protect your family or loved ones in case of a death.
If the person that's covered by life cover happens to die, another person or people that are stated in the cover are paid a lump sum of money.
This money can be used as required, many people choose to use it for the funeral and for living costs.
But who needs this cover, and why? I feel everyone does, especially those that have anyone in anyway reliant on them.
If you're a parent, carer, or have a partner who you share expenses with, your death would mean a significant burden would be put on the people you leave behind.
As well as having to deal emotionally with your death, they'll have to deal with any financial issues you leave behind.
That may include paying rent, paying off a mortgage, any credit card debts, and more.
Add to that the cost of sorting the funeral and paying off anything you had previously bought on credit, things can get very expensive very quick.
Putting aside a little bit every month towards life cover isn't going to break the bank, but having the peace of mind that you and your family are covered in case of the un-thinkable happening is more then worth the cost.
