What is Life Insurance?

Life insurance is a type of policy which pays out an income or lump sum of money, usually to family members, if the insured person was to die within the term. It is usually taken out to cover a debt, such as a mortgage, but can also be used to replace the income of key family members or provide payment for a funeral and other living expenses. Life Insurance is a great way of offering your family financial security in the event of your death.