As you book your holiday, one of the things that the travel agent/website inevitably asks is whether you have holiday insurance and a lot of us will just answer yes and move on to the exciting business of booking the holiday. We may or may not revisit this at a later date and actual obtain the insurance that we need.

This attitude to insurance does not just affect our holidays either; it carries over to other areas of our lives as well. A study conducted in April 2012 by Barclays, discovered that 54% of adults do not have any life assurance despite two thirds having dependants. This means that if something tragic were to happen to the main breadwinner, over half of families would struggle financially at a time when they are going through enormous emotional upheaval as well.

The most common reason cited for not having life cover is lack of affordability and this perception is completely understandable in the curent economic climate. Ironically, however, the earlier you start to think about this, the cheaper it is likely to be with monthly costs starting at £5.20 for a 20 year old or £13.00 for a 50 year old (based upon the cheapest cover in the market for a healthy, non smoker who is looking for £100,000 of cover up to age 65). The actual cost is therefore often very little each month.

Whilst everybody's circumstances are different and we all have our financial pressures, it is important to plan for the future and consider how your dependants would cope if the worst were to happen. Part of this is ensuring that your loved ones would have the resources available to cope financially and life assurance is a major part of this.