Life insurance is a popular type of insurance which pays out to your dependants when you pass away. Anyone with a family will benefit from life insurance and it provides peace of mind knowing your family are protected should you have a fatal accident. The cost of a life insurance is determined by a number of factors including your age, health and lifestyle.
What is life insurance?
If you have considerable debts, then life insurance can help your partner or children be able to manage your financial commitments after you die.
Why do you need life insurance?
Life insurance can also help to make sure your dependants are able to keep up with any mortgage repayments and bills. The payout they receive could also help to pay for other things you would usually help to cover, like food bills and schooling.