Regardless if you are a singel income or dual income household would your family cope financially in the event of your death, or if you were diagnosed with a terminal illness? A Life Insurance plan provides lump lump financial support to your family in the event of the insured's death, illness or permanent injury.
If the insured person dies during the plan terms then a lunp sum payment is add to the family. This cash benefit can be used to help to pay for funeral costs, children's education or other household bills as you see fit, msot common these included mortgages, estate taxes but can also be used however you wish.
The most common types of Life Insurance offer coverage for either a pre set period of time, also known as Term Life Insurance or for the entire life of the insured, known as whole of life usually. Term life can between 1 or more years. Life Insurance is designed to protect your loved ones and family until such time as they are financially independent.
It is important to note that premiums for Term Life and Whole of Life plans may or may not fluctuate throughout the coverage period. A Major Compare adviser will go over your needs and help you find the best life insruance plan based on your personal situation.Compare Life Insurance