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Life or luxury?


Life or luxury?

One of the reasons people may cite for not buying Life Cover is that they can’t afford it and if you don’t need to claim then it could seem like an unnecessary expense.

However, Life Cover can provide you with the peace of mind that your family are financially protected should the worst happen to you. If you do have to claim, the financial payment provided could make a world of difference to your family.

The state does provide some help to bereaved families but it might not cover all your family’s costs. If you have a mortgage or outstanding debts, Life Cover could help your loved ones cope with any financial strain.

Possession or provision?

In the current climate, money is tight for many families and more of us are being affected by rising costs.

However, if we just slightly altered our daily routine and cut back on some of the smaller luxuries many of us take for granted, we could save money on what we don’t need so that we can focus on what we do.

There are several ways that you could save a few pounds here and there and possibly become slightly healthier in the process:

  • Make a flask of coffee before you leave the house instead of buying one from a café. Alternatively, take a jar of coffee, some milk and a mug with you and make your own.
  • Government tax initiatives have meant that the price of cigarettes and alcohol has increased significantly in the last year or so*. Cutting down smoking and drinking - or even giving up entirely - could save you money and you’ll also be healthier for it.
  • Instead of driving everywhere, try to limit the amount of time you spend in the car. Walking or cycling is better for you and you’ll save on petrol and parking costs too.
  • Choose own-brand items for essential food stuffs and ingredients such as milk, bread and chopped tomatoes. Groceries quickly add up and you probably won’t be able to tell the difference.
  • If you’re a fan of the cinema, consider making your own popcorn at home. Not only will you save money, but you can smother the popped corn in whichever topping you prefer instead of buying the flavourless cinema version.
  • Clear out your home and sell unwanted possessions and unworn clothes over the internet. For a minimal amount of effort, you could make a significant sum of money from things you don’t use any more.
  • Buying books can get expensive, especially if you’re a fast reader. Why not join your local library and borrow books for free. You can reserve new titles and you won’t be filling your home up with hefty tomes.
  • Ask yourself if you use your gym membership enough to justify the money. If you drag yourself there once a week (or less), it may be worth cancelling it and taking up running or doing an exercise DVD.
  • See if friends or relatives will look after your children when you go out. You could save on the additional cost of a babysitter and relax knowing your children are with adults you trust.
  • Embrace the voucher. There’s no need to pay full price for many things these days - restaurants, cinemas and theatres usually have half price offers on. Do your research and you can enjoy yourself for less.

Whether you decide to cut back on some of those little luxuries or not, with John Lewis Life Cover you can choose a monthly or annual payment that suits you, based on how long you’d like cover for and the amount your family would need.

About John Lewis Life Cover

John Lewis Life Cover helps provide financial protection for your family should the worst happen to you. We offer cover options to suit your circumstances, including cover which pays a cash sum that stays the same throughout the cover period, and cover which reduces over time and is often used to help with a repayment mortgage.

With John Lewis Life Cover, depending on the type of cover or options you choose, your premiums are guaranteed to same the same as you get older, unless you change your cover term or amount. We also offer you the chance to waive your premiums for an additional amount if you can't work due to illness or injury for over three months, until you return to work, your 65th birthday or your cover ends.

Remember, inflation will reduce the spending power of any money paid out and you should review your protection arrangements on a regular basis to ensure that they are still appropriate. Life Cover has no cash-in value at anytime and if you stop paying your premiums or cancel your policy, your cover will also stop.

* http://cdn.hm-treasury.gov.uk/budget2012_complete.pdf

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* http://cdn.hm-treasury.gov.uk/budget2012_complete.pdf

John Lewis life cover is provided by Friends Life and Pensions Limited - please read Important information (PDF). Once your policy begins you may receive documents and correspondence from Friends Life. These will always be relevant to your application or policy and will never be unsolicited.

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