Life insurance protect your loved ones financially if the worst were to happen or you die or are diagnosed terminally ill. Your family will get a cash lump sum they can use to cover costs such as funeral expenses, mortgage & debts or household bills.
It is not unheard of that a person has died playing sport, and this can be devastating to those close to you.
If you’re a homeowner or in the process of buying a home, it’s also a good idea to think about life insurance to cover your mortgage. This means that if you die before you’ve paid off your mortgage, then your family don’t need to worry about the monthly repayments.