Life insurance, sometimes referred to as life assurance, provides for a payment of a sum of money upon the death of the insured. In addition, life insurance can be used as a means of investment or saving.
Life insurance is particularly beneficial to those who, in the event that they die, want to ensure their family do not get into financial difficulties. It can also be used to offset inheritance tax that is needed to pay when someone dies.
You can insure for a term (a set number of years) or for whole of life.
As with other types of insurance, you will need to shop around to get budget prices.
For further information visit Do I need life insurance?