Legal & General

Legal & General

April 30, 2013 04:00 ET

Lives Are Worth More Than the Benefits Suggest and Are as Valuable as Ever

Life insurance still needed for priceless lives

SURREY, UNITED KINGDOM--(Marketwired - April 30, 2013) - So it arrives, a new financial year and the start of an austere run of cutbacks. The period of grace over, the caps to housing benefits are now in full-force.

A budget designed to drive the unemployed back to work by cutting support to the bare minimum will no doubt cast a shadow of anxiety across many homes. With the range of cuts coming into play at once, households are being hit at all angles.

Thankfully, the Citizen's Advice Bureau has put together all the details of each adjustment to the benefits, so no one needs to lost and confused. A simple chat with an advisor may set a few things straight. From bedroom tax to individual benefits being capped per week, every single purse string is being tugged and pulled to a tight extreme.

If anyone needs a reminder, the foray after Ian-Duncan-Smith's claim that he could live on the lowest cap of £53 a week should jog the memory - yes it's those attacks on benefits.

With so much now having to be accounted and budgeted for, other essentials, such as life insurance, for example, have fallen dramatically by the wayside. In these austere times, what used to be essential and necessary are now peripheral and luxurious. Life insurance is one of those items simply become viewed as an unaffordable extravagance.

But is this really the case?

Well, in short, yes. Without knowing the life insurance quotes on offer, it can seem so. However, there are all sorts of hidden helps out there and a range of sources offer healthy life insurance plans that take care of whole families at little cost.

The cost of any life is priceless, so keeping up a small payment that keeps a family looked after in the face of the worst possible fate, is a security blanket not to be scrapped if a family can help it. There are premiums that can start from as little as £6, which is a lot less than suspected.

The cost of life insurance is a small expense that goes a long way. Even if the country appears to limit a life to £53 a week, it's actually worth a lot more.

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