Life insurance can be thought of a financial safety net for your loved ones. You pay regular premiums, and in return, your beneficiaries will receive a lump sum payment when you die. If you are diagnosed terminally ill after 12 months of having cover, you may receive an early benefit payout.

These payments can be used in any way you or your beneficiaries see fit. It could help to cover medical bills, day-to-day living costs or funeral expenses. It could help your family maintain their lifestyle, or pay off the mortgage. You choose the type of cover you want and the amount of insurance you need to protect your family financially, if the worst should happen.