At Baker Hudson we understand the importance of safeguarding your family’s future. Our increasing life insurance policies are designed to provide peace of mind and financial security for your loved ones in the event of the unexpected. Giving them a payout that won’t be eroded over time by inflation. Here’s why you should consider increasing life insurance:
- Flexible Coverage: The coverage amount in an Increasing Life Insurance policy grows over time, ensuring that your loved ones receive adequate protection, even as your financial commitments increase.
- Adaptable Premiums: Your premiums gradually increase as you get older. This makes it more affordable when you’re young and provides financial stability when you need it most. Can’t afford the increase one year? Most providers give the option to turn down the increase for a year or 2.
- Customizable Term Length: You can choose the length of the policy term, which can align with your anticipated financial goals, such as paying for your children’s education or reaching retirement.
- Income Replacement: The policy can provide income replacement for your family in the event of your passing, allowing them to maintain their standard of living.
- Protect against inflation: Increasing Life Insurance can be index-linked which means the payout will increase in line with inflation each year.