Life Insurance

The most common type of cover is life insurance (term life insurance). Life insurance will pay a lump sum to your estate or specific beneficiaries in the event of death or in some cases, terminal illness.
 
The advantage of life insurance is peace of mind that your death will minimise any financial hardship for your loved ones. Life insurance can be used to pay off debts, provide an income for dependents, cover funeral expenses and generally assist in maintaining your family’s lifestyle in the event of your death.
 
With this type of cover, your family would not be burdened by debt and may be protected from selling assets to pay debts or cover living expenses. 
Posted By David Orth