Do I need life insurance?

People generally today experience more life events compared to their parents or grandparents. This is largely due to the growing complexity of modern day life.

There’s a simple question to ask yourself, “would your death have a financial impact on either your partner or your children?” If the answer is yes, it’s possibly time to think about arranging some life insurance.

Life insurance ensures those you care for aren’t financially worse off, should you unexpectedly pass away. Even if you’re one of two dual earners within a household, it’s important to consider if one income would be enough to cover all expenses – your bills, mortgage payments and/or living costs.

Most policies will typically pay out a death benefit to any beneficiaries of the insurance policy. This ensures that unexpected funeral costs, bills and mortgage payments can be covered in the event of your untimely death. Even if you don’t have dependents relying on your income, life insurance can be used to cover such costs as your funeral arrangements.