Life Insurance after having a baby
Life insurance may not have crossed your mind before there was a newborn relying on you. But life insurance after having a baby changes everything, and if you have a new born I’m sure you can relate to that already.
Getting Life Insurance is a simple way to make sure your family will be financially secure in case something happens to you.
If you have just had a baby and you don’t have any family protection plans in place, the probable reason you are reading this is that you are worried. You are worried that if something was to happen you or your partner how would your family cope financially.
Firstly let me congratulate you, you have taken the first steps to sorting out this issue. Let’s face it, when we wake up in the morning, life insurance is not the first thing we think about, there are nicer things to spend our money on, but there is probably not too many more important things to pay for. Congratulations because by reading this or doing a little research or by contacting a insurance broker for advice you are will on the way to getting the most appropriate cover and the cheapest plan to suit you and your family’s needs.
Let’s walk through what you need to know:
Life Insurance is one of these things you pay for and hope you never need. But it’s never more important than when a new baby comes along. So whether you’re protecting your family or your possessions, make sure you’re covered.
Why do you need Life Insurance?
To answer this question, you first need to ask yourself a really tough one.
How would your family cope financially if you or your partner were to die?
If you don’t know or if you know that your family would not be able to cope, then you definitely need to review your insurance and make sure you’re prepared for the unexpected.
How life insurance works
It’s pretty simple really, a life Insurance company will pay money, a death benefit, to a beneficiary — a spouse, for example — when the person insured under the policy dies.
“Paul saw One Life on Facebook and we both realised how important Life Insurance was, especially now that we have Jade in our lives. It was frightening thinking about what would happen if one of us died but there’s no way either of us would be able to cope financially on our own. When we spoke to you, we made list of all our living expenses, and worked out what we’d need as a lump sum. We worked out the most appropriate plan and the cheapest premium. It was only €28 a month for both of us. It seems the right and obvious thing to do.” Rachel H – Louth
Why both parents need life insurance
It’s not just the main breadwinner who needs life insurance. Stay-at-home parents should have coverage too, even if they don’t earn income. A stay-at-home parent provides valuable services, such as child care, that the surviving parent would have to pay to replace. A life insurance payout could also enable the surviving breadwinner to take a few years off work while the family regains footing.
How much life insurance to buy
Working out how much life insurance you think you need can be complicated, especially if you have not contacted a professional. Have a look at your family’s financial needs and expenses especially if you weren’t there to support them. Here are four steps:
Decide how many years of income you’d like a life insurance policy to replace, and multiply your income by that number.
Add other financial obligations, such as debts and college costs for your children.
Include the cost of services you provide that would have to be replaced
Subtract savings and any other life insurance coverage you already have.
Here at One Life we will help you to calculate this, that is our job after all.
How much does Life Insurance cost?
Life Insurance can cost as little as €2.33 per week
The annual price depends on the type of policy, the amount of life cover and the length of the term. Other factors include:
Age: The younger you are the less you pay.
Health: The healthier you are the less you pay.
Smoker: Smokers pay more than non-smokers.
Here’s an example:
A couple both aged 32, both non-smokers taking out €300,000 each of Life Cover over a 20 year term would cost only €30.18 per couple pm.
Life insurance prices vary among companies. We are a broker and we can search all these companies for you. You can get an online quote http://www.onelifeinsure.ie, after you get a quote one of our Qualified Financial Advisors (QFAs) will contact you to discuss your application.
With Life Insurance, you’ll know your family will be on solid financial ground if you can’t be there. That might even help you sleep better at night — at least when the baby’s not up.
How to apply:
Step 1: Search for quotes on our website http://www.onelifeinsure.ie
Step 2: Quick and Easy Application Process: Completing your application couldn’t be easier, there are no forms for you to fill out. You can complete your application over the phone in about 5 minutes and sign it securely online in minutes.
Contact One Life Insurance
t: 01- 5390410
Contact us via this form and we will respond as soon as we can