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September 5, 2019

5 Reasons to be Cheerful

Reasons why you might need to review your life insurance policy and potentially save some cash.

By Heron Financial

Let’s face it, the life insurance chat isn’t one we look forward to, nor something we’re ever likely to want to discuss over a few glasses of wine with friends. It is, however, an important issue to address (up there with things like going to the dentist or dealing with your self assessment tax return). For example, did you know that you should review your life insurance at least once every year? At least?! It’s not all bad news though – changes in your life and lifestyle can actually have a positive effect on your insurance rates. That’s right, reviewing your policy can save you some cash. So, we’ve compiled a list of reasons to review your life insurance – have a read and see how many apply to you:

1. You got fit

While you decided to throw out the sugar bowl and actually employ that pedometer, you may have lost weight and lowered your blood pressure in the process. Guess what? Those new readings will have a significant affect on your life insurance rates and you may even qualify for discounts now. Furthermore, if you’ve ditched the nicotine it’s all the more reason to review – according to data taken between January and November 2018, the average non-smoker will pay a whopping 111% less per month for decreasing term life insurance.

2. You got a new job

Got yourself a promotion or a better paid job? Firstly, congratulations! Secondly, your hard work may pay off even further as it’s likely to have an impact on those insurance rates – so why not find out whilst you’re riding that high. The drinks are on you, right?

3. You got a windfall

Perhaps you received a substantial amount of cash out of the blue or an inheritance came through. That’s right, you guessed it, that sort of news will change your life insurance needs and will mean they need updating.

4. You heard wedding bells

The confetti has barely settled on the town hall steps and you’re here reading about getting life insurance policies for the both of you. Good for you, better half. It’s an important time to get your affairs in order, as it were. Should you get divorced (we hope you don’t, of course, but you never know) at least you’ll end up paying less insurance. Ahem. 

5. There’s a new baby in town

Goo goo eyes and ga ga brains aside, a new addition to the family comes with a big old bursting nappy pile of responsibilities and financial stresses. (Can you tell that we’re still getting over being appointed as chief babysitter for our brother’s children – all four of them). Life insurance should be high on the list of ‘stuff to sort out’. You’ll thank us later and so will they. Nice baby grow by the way. 

Other not so cheery life changes will of course also affect your insurance rates and needs. Taking on the care or responsibility of a relative or friend, divorce and sickness will all need to be taken into consideration with regards to your policy. 

Whether you’ve had life improvements (or not so happy changes) recently or not, it’s always worth reviewing your policy and making sure you’re paying the correct amount for your situation. If you don’t have life insurance yet, see this as a sign to find out whether you need it or not.

Just give us a call on +44 (0)203 195 1982, drop us an email on info@heronfinancial.co.uk, or book an appointment online by clicking here. Just remember to quote “Go Lionesses!” when booking.

+44 (0)203 195 1982
info@heronfinancial.co.uk

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