How To Live Forever Through a Legacy
15th November 2011
Accepting our mortality is something which nobody is particularly fond of, with a large number of people not even wanting to broach the subject with their loved ones. The thought of leaving friends and family can be upsetting, but is there a way to live forever?
The main concern most individuals have when considering their mortality is over the loved ones that they leave behind. Many people worry that it is their friends and family who will suffer most from their passing and, therefore, look for ways in which they can remain with them.
Perhaps the easiest way to do this and attempt to ‘live forever’ is to invest in a sufficient life insurance policy. Shockingly, as many as 50% of UK adults do not have life insurance, meaning that their loved ones could be facing significant financial and emotional burdens in the event of their death.
This apathy towards life insurance means that more than 25% of individuals would be unable to afford a funeral if their partner died.
Alongside these concerns, the lack of life insurance policies could also put mortgage costs at risk. As much as £245 billion is said to be put at risk in this way, with individuals failing to obtain a policy which will cover this large and highly important expense.
The figures suggest that, on average, those who pay towards a mortgage but are not covered by life insurance are personally responsible for a balance of approximately £36,000.
Living Forever
For those interested in ‘living forever’, it is therefore vital that they invest in a suitable life insurance policy. These can be obtained for competitive costs and will give financial peace of mind to individuals.
Life insurance payouts are made following the death of the individual and can then be used by the bereaved spouse or family member to cover essential costs. These can include mortgage repayments as well as costs associated with the individual’s passing, such as those incurred by the funeral.
Alternatively, the money could even be put towards a touching memorial for the individual or could be used to purchase a special gift for the loved ones left behind. This would then ensure that the individual lived on forever in the only way that is humanly possible – through their family and friends.
- How to keep healthy over 50
- Top 3 Over 50s Cruises
- Child-proofing your home: dos and don’ts
- 4 ways to feel young again
- Over 50s are working harder than 20 year olds
- What is the average cost of being a pensioner?
- 50 year olds face the most expensive time of their lives
- Church of England wedding and funeral fees to increase
- Elderly care in a state of ‘crisis’ says charity
- Will interest rates rise in the next 6 months?
- 5 expensive drains on your finances when you are over 50
- 5 ways the baby boomers changed the world
- The world’s oldest people
- Have you saved money for retirement?
- Top places where people want their ashes scattered
- News Archive
