Life insurance can be a very confusing topic. The older we get the more apparent the importance of life insurance becomes. The insurance can come quite cheaply depending on the policy you pick.
So what do you need life insurance for?
Protecting loved ones
One of the main reasons many people begin to consider life insurance is the benefit of protecting loved ones. Should you die, life insurance will replace your income support for your loved ones.
Leave an Inheritance
Life insurance can add to an inheritance for you loved ones.
To pay off debts and other expenses
Life insurance can cover any outstanding debts such as a mortgage or credit card bills. As well as other expenses such as funeral and burial costs.