Directline Life Insurance: How much cover do you need?


It's tempting to put off any decision about taking out life cover but beware:-

Approximately 1,700 people die everyday in the UK (Source: The Office for National Statistics)
Every year that you delay increases the cost

How much you should take out is also something you must consider. There is not a definitive answer, but you may wish to think about some of the following:

What do you require the life cover for?

Security for your family/partner
Required for your mortgage

There are other considerations which you should then take into account:

• How much is your mortgage?

• What type of mortgage do you have?

• What are your general family living expenses?

• For how long will your children be dependent on your income and what education commitments might you be required to meet?

• If you have other savings what might it earn for family income?

You should also allow for a reasonable rate of inflation as life cover is generally a long term purchase. For example compare prices now to ten years ago.

It really is up to you, you should consider what income would be required should you die to keep your dependents in the same lifestyle and standard of living as they have now. Also note this will not just be for one year, but possibly a number of years, especially if your children are young.
Link to previous articles:
Direct Line Life Insurance: Types of Covers
Direct Line Life Insurance: Overview
Direct Line Pet Insurance Claims Process
Direct Line Pet Insurance: Summary of cover Direct Line Pet Insurance
Travel Insurance: Claims information

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