Why do I need life insurance?

Dependents: If you have a partner, children or someone who relies on you for help or income, then you should consider life insurance.

If you earn an income which helps with household bills, either as a sole breadwinner or as part of a couple, then without that money the family might struggle to pay bills like the mortgage or rent.

If you only work part-time, or are a home-maker, your family may find it hard to cover the cost of finding someone to look after the children or another family member if you were no longer around. So anyone who has dependents should consider taking out life insurance. 

Debts or mortgage: It could also be important if you have debts, loans or an outstanding mortgage on your home. Life insurance could pay out a cash if you die during the policy term and this could be used to help pay off these debts or it could help your family with every day living expenses or child care costs. It also could help cover funeral expenses.