Life insurance is one of the simplest insurance concepts on the planet. If you die your family gets paid a cash sum. It isn’t really life insurance but death insurance.
Life cover is taken out to protect your family. To pay off the mortgage, to ensure an income for children, to pay funeral costs. Protecting your family from the financial consequences of an unexpected early death makes sense.
Unlike health or car insurance, you will not be around to argue your corner at claim time. So it is vital to get the right policy. Various options for life insurance are considered in this section.