Life assurance

Life assurance is an essential cover if you have dependants, such as a spouse or children, who would need financial support if you were to die unexpectedly.

There are various types of life assurance to choose from depending on your budget and how much, and when, you would want a lump sum to be paid out to your loved ones. Policies include term assurance, whole of life assurance and family income benefit.

You may well have some life cover already under a with profit endowment policy you bought to pay off your mortgage. In addition, you may have a death-in-service benefit with your employer, which is typically worth four times your annual salary. So, check out how much insurance you have already have before buying additional cover.