5 Signs It Could Be Time to Consider Life Insurance

As a family I think we are rather sensible with the way we approach life. We work hard, adventure as much as we can and ensure we spend as much time as possible enjoying the day-to-day hustle and bustle.

However, we also have a fairly good contingency plan in place if the worst ever to happened to either one of us. We both have life insurance cover and have a Will in place to make sure the boys are well catered for, no matter what happens to us.

Why? I hear you ask, well these are the five reasons I decided it was time to get insured.


Often people get insurance when the get married as it’s a natural point in life when you decide that cover is for you. In my case, it wasn’t the right time as we were renting and looking to relocate to Wales. However, looking back I think the earlier you can get yourself a life insurance policy in place, the better, so you don’t need to worry about it when circumstances change and when money can be better spent elsewhere, when you have kids for example.


When we had our first child there was so much going on, that the importance of life insurance didn’t cross my mind. But by the time number two came along, just knowing there was some protection in place for them if something happened to either one of us, was such a relief that I couldn’t ignore the importance of it anymore.


Most mortgage companies insist on you having a life insurance policy in place, often tied to the mortgage that you take out. However I decided to shop around to find the best policy for my family. We found that a lot of Joint policies actually only pay out when one of you die, so we opted for two separate policies to make sure the boys have all the protection they need should anything happen to us.


Since I started my life insurance cover, a lot has changed. We moved into a bigger house and I’m earning more money, which all impacts our lifestyle. As such, your plans for the future change, meaning you may want to provide additional support to your children to support them through university or whatever they choose to do with their lives.

It’s important that you review your cover periodically to ensure that your level of cover will pay out enough to cover all the expenses you can envisage your loved ones needing in the future, if you were no longer around.


When taking out life insurance, age is definitely a factor. I took my policy out when I was around 29-years-old. And the earlier you can arrange cover, the better.

One thing that’s also worth considering is critical illness cover. This was an important purchase for me, as the idea that I could get ill and not be able to work and support my family wasn’t an option for me. Knowing that that extra protection is in place means my family and I can have a better quality of life.

Having a life insurance policy in place is an important purchase whether you can relate to all or just some of these factors. You never know what’s around the corner, so getting some financial protection in place for the future really should be on your to-do list.

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