You often don’t realise how important life insurance is until something happens to your family. A lump sum in the event of death or terminal illness can’t replace a loved one, but it helps keep your family afloat during the grieving period. It also helps pay off a mortgage if you’re a property owner. Meaning you can leave your home to your family.
The cost of your cover will vary depending on factors including age, health and occupation. If you’re an underwater welder, your premiums would be more expensive than a desk worker.