Few people rush out to buy life insurance – it’s hardly glamorous purchase and nobody really wants to think about their own death. But a decent life policy is a must-have for people with dependents and other responsibilities.

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Life insurance pays out a lump sum or regular income on death. It is therefore an essential purchase if you have a partner, or a business partner or you have children who rely on your earnings.

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Even if you already have some protection in place, you need to consider if it is enough or is it the right type of cover. For example, many of us will have life cover for our mortgage-which is fine.  If you die unexpectedly however and the mortgage is paid off, will you be also leaving behind enough to run the home and cover everyday expenses such as food and clothing.

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If you are in a business partnership, will your partner have enough money to pay out your half of the business to your next of kin if you died.  These are just some of the questions that a discussion with a protection professional can answer.

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The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.