Life insurance, or life assurance as it is correctly referred
to, is a way of providing financial protection should you die.
There are many providers of life assurance and these policies
can pay out either a lump sum or a regular income payment upon
death. The amount of cover that you decide upon is known as the
sum assured.
The proceeds of a life assurance policy can provide an income
or lump sum for your dependants, or pay off any outstanding debts,
such as a mortgage.
With each life assurance policy you pay a monthly or annual premium
to provide cover for a specific period of time or until death,
whenever that may occur.
Life assurance policies provide a choice of options that can
be included at an extra cost, such as critical illness cover and
waiver of premium:
