It doesn't have to be complicated

It's one of those items on the 'to do' list that is often avoided: making decisions about life insurance. People worry that choosing the right product is complicated and overwhelming, but it doesn't have to be if you take a step-by-step approach.

For a start, do you need it? The short answer is: yes, you do if you have anyone who is dependent on your financially - children, a partner or spouse who depends on your income, or a mortgage on the family home. That's because life insurance is a great way to help protect your family financially, should the worst happen.

Life insurance is designed to pay out a cash sum if you die during the length of the policy. That money can then be used to help pay the mortgage or help protect the family's lifestyle and everyday living expenses. It's esy to see why it's a good idea to have.

The second decision then becomes, what type of life insurance do you need? Our 'help me decide' life insurance decision tree (see below) poses a series of straightforward questions to help you get an idea of the options available and the type of product, or products, best suited to your current situation.

Life insurance decision tree  

Please be aware that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.

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