Life insurance cover can help with the repayment of debts such as mortgage repayments and can also assist dependants financially in the unfortunate circumstance of the policy holder’s death.

Mortgage life insurance is a type of life insurance that pays out to cover the cost of your mortgage if you die within the term of the policy - it means your spouse or partner and any dependants won't need to fund monthly mortgage repayments after your death.

Family life insurance, another way of describing life insurance, pays out a lump sum or a regular income on death and can offer a financial lifeline to grieving relatives. A policy could, for example, clear the mortgage or any other debts so your family would not have to worry about losing the roof over their heads.

Whole-of-life assurance is different because your family can make a claim whenever you die. In other words, a claim is assured, hence the name, and the policy is guaranteed to pay out at that point, whenever it might be.

Life insurance premiums rise with age, so if you are thinking of arranging cover later in life, it’s worth considering a specialist policy for the over 50s.

Critical Illness Cover pays you a tax-free cash lump sum as long as you are diagnosed as having one of the illnesses specified in the policy. This can be immediate help with your finances, but in addition can also help with any care costs you may incur, medical bills or sometimes even travelling abroad for treatment.