L&G advise families to take protection insurance

by Richard Kilner

Story link: L&G advise families to take protection insurance

With the financial markets continuing to experience difficulties, Legal & General is advising families to take out suitable insurance to help protect their mortgage and lifestyle.

Anyone with a mortgage is likely to be worried about the situation should they need to remortgage soon, Bonnie Burns (product marketing director), said.

Burns went on to say that increasing council tax bills, and soaring fuel and food costs will also play a part in family’s worries.

However, she advises people pondering whether they can afford protective insurance to consider whether they can afford not to have it.

Should a family member be taken ill, their earning power could decrease dramatically or even be reduced to nothing with potentially dire consequences.

With a family protection policies a monthly income can be provided should the policyholder become ill, or die.

According to the firm’s calculations, coverage would cost a healthy, non-smoker woman aged 35 just £9.87 per month, for a benefit of £1,000 in case of illness.