life insurance Guide - 1/7

The concept of life insurance (also known as ‘life assurance’ or ‘term assurance’) is often difficult to comprehend. Nobody wants to think about death, but the reality is that our loved ones will need support after we have passed on. That’s why moneysupermarket.com has produced an exclusive guide to help you make an educated choice on the type of cover you need.

Why do I need life insurance?

Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. It can help to support your family after you die, or even a business partner.
Among the reasons to take out life insurance could include:

Mortgage repayments – do you wish to arrange for your mortgage to be paid off?
Replacing the primary earner’s salary – ensuring the family does not fall on hard times after your death.
Replacing childcare – the death of the primary childcare provider could lead to the need for childcare expenses.
Education expenses – cover for school/university fees after the death of the primary earner.