Use this guide when you have a mortgage, children or a partner who relies on your income, or you have been offered a policy and are unsure whether it is right. Have your mortgage statement, a rough idea of household spending, and details of any cover through your employer. This is general information; consider regulated advice for a complex situation.
Step by step
Check whether anyone relies on you financially
Life insurance pays out if you die during the policy term, so it matters most if a partner, children or others depend on your income or care. If nobody relies on you and you have no shared debts, you may not need it. List who would be affected and what would happen to the mortgage or rent, childcare and daily bills without you. Remember that unpaid care also has a cost to replace.
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