Life assurance
1 May 2008
Life assurance is an insurance policy which you take out and maintain, that guarantees to pay out a lump sum on your death.
So if you have a family to protect it’s something you might feel you need. If you are taking on a large debt, like a mortgage, your mortgage lender might urge you to take out sufficient life assurance cover to meet your obligation in the event of death. That way, at least, your family will still be able to live in the home that you bought.
Life assurance can be one of the cheapest types of protection you can buy and when your children are growing up it should give you valuable peace of mind.
The younger you are, the lower your premiums are likely to be, and as an inducement many insurers guarantee to hold the initial premium price for as long as your policy runs.
