Ever since your children entered the world, you’ve done everything you can to protect them, giving them endless love and attention.
But what about protecting your little ones’ financial futures? You may not have given it too much thought because you’re too busy with your day-to-day lives, but the earlier you start taking steps to securing a happy financial future for your kids, the better.
So, next time they’re out on a play date, why not put the kettle on and start planning ways to protect their financial future? 카지노사이트
A study* from MoneySuperMarket, published in January 2016, revealed that up to 60% of UK adults don’t have any form of life cover, as well as 17% of adults who have financial dependents. The study explains that around 12 million of the UK’s breadwinners are women – of which, just 38% have life insurance, compared to 45% of men.
If life insurance has never been a priority, now that you have a family, it could be the ideal time to make it one. It’s not nice to think about, but having cover in place will help protect your loved ones if something were to happen and they were no longer able to rely on your income.
Choosing life insurance
Similar to other types of cover, you can tailor your life insurance to suit your needs, choosing from different levels and a range of optional extras.
For instance, critical illness cover can be added to your policy so that if you were diagnosed with an illness covered by the plan, you will receive a cash sum. This money can help to relieve the financial worries associated with critical illnesses, covering time spent off work, ensuring you can still pay household bills, and funding specialist treatment.
And what would happen if you were forced to take a prolonged period of time off work? You might want to look at adding income protection to your life insurance policy, this would replace some of your earnings if you can’t work.
Make a will
Again, it’s not nice to think about – but if anything were to happen to you, you want to be certain your family is provided for and cared for by the people you would choose. And that’s why you might want to make a will as soon as possible. 안전한카지노사이트
You can either write a will yourself, hire a solicitor or use a will-writing service; make sure you research each option thoroughly before deciding, as they all have pros and potential drawbacks. You can find out more here*.
Appoint an executor
Part of the process involves you appointing an executor, who will be responsible for carrying out the instructions left in your will. Executors need to be aged over 18 and can be listed in your will, so it could be your spouse or family member.
Ultimately, when choosing an executor, it needs to be someone you trust to carry out your wishes in the event of your death. And don’t forget to check that they’re happy to act as executor before you name them in your will. 카지노사이트 추천
Now, you might want to start planning how to build a savings pot to help fund your family’s future. Driving lessons and university graduation may seem like a world away, but start putting money away now and you’ll give yourself a good head start. Explore some of the ways to invest in your child’s future here*.
When making decisions that’ll affect your finances, it could be worth speaking to a professional who will be able to advise you on the most suitable options, you may have to pay for any advice you receive.