The Next Generation: Securing their Financial Future

Whether you have a modest amount of savings, a fully-fledged investment portfolio or thousands of euros worth of an inheritance, the financial legacy you will one day pass down to your loved ones will directly influence their lives and offer the support that they need. Leaving a legacy behind, however, becomes even more of a pressing matter if you are at a point in your life where due to age or ill health there is not much time at your disposal to accumulate sufficient funds.  
 
A life insurance that will drive you to build your wealth over time which can eventually see your loved ones through a rough patch, fund education or provide an income that will help to maintain their lifestyle and meet financial needs is ultimately the best gift you can give your children.

How life insurance can help you leave a financial legacy

Although there are several steps you can take to help build your legacy such as paying off any debt, trying to live below your means or building an investment portfolio, if none of these options are appropriate for your current situation, then a life insurance is one way to help you safeguard your family’s financial future when you are no longer here. This type of insurance covers the insurer for the rest of their life and works by providing heirs with a lump sum of money on their death.

What are the advantages of life insurance for building your legacy? 

The lump sum of money that will be provided to your family on your death is one of the primary advantages of this type of life insurance, but it is not the only one. Some more benefits include: 

• A portion of the death benefit from this policy can be used to pay any taxes due, minimising the impact taxes may have on your family.  
• Some plans may also offer you additional benefits that cover accidents, disability or terminal illness which means that your family will still be covered if your income is reduced or you lose it altogether.  
• A popular misconception is that you need to be rich to have a protection plan, yet, this is far from reality. Life insurance can be affordable even for those who only have a few euros to spare each month. 

Where to get the best life insurance to establish a legacy?

Without a doubt, the greatest legacy you have is your own family. If you have dependents who rely on you, you cannot afford not to have life insurance. Designed to protect your family from the financial costs when you die such as funeral expenses, any taxes overdue and other duties, CC’s Whole of Life Insurance Plan can also help maintain your family’s lifestyle or the funds can simply be left to leave as a legacy. By securing your family’s tomorrow, you can enjoy today.