Life insurance can be complicated and something that most people don't like to think about but it is a cost-effective way of protecting your family or mortgage in the event of your death.
Matt Lloyd, head of life insurance at Confused.com explains what life insurance is in this short video.
Life insurance is a simple and cost-effective way of protecting your family or mortgage in the event of your death.
As the name suggests it’s an insurance policy, nothing more complicated than that, that’s taken out on a life. Or a number of lives in the case of a joint policy.
And it’s intended to pay out on the death of one of the policyholders. So in some ways it’s one of the easiest types of insurance to try and understand!
Granted, talking about your own death isn’t a topic of conversation that comes particularly naturally to people, but speaking as someone with life insurance myself, knowing that my family would be able to cope financially, and that they could continue to live in the family home, does give me peace some of mind.