The first astronauts to travel to the moon had a problem. No life insurers would cover a team about to embark on a potentially lethal mission.
Then, the crew had an idea. They autographed a number of postal envelopes, rightly assuming these would soar in value if they died and leave enough money to take care of their families.
It’s a bit simpler nowadays… Whilst the Apollo 11 crew’s unconventional approach is admirable, fortunately, it’s much easier for the average person to obtain life insurance these days. Even if you’re not embarking on a dangerous mission, it’s still important to have cover.
Once in a blue moon? Although it’s difficult to think about, it’s best to be prepared for various scenarios, such as illness or death. Although not cheery topics, they should be planned for. If you know your family would struggle to pay the bills without your income, then life insurance is essential and will give you valuable peace of mind.
This material is for information purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance or any other financial product, you must obtain individual advice regarding your requirements and general policy conditions. The presented information & data are valid at the time of publishing.
Source: Quilter Financial Planning – Essentially Mortgages Q1 2020