Have you ever considered what would happen to your family if you were to die? A policy will pay out a lump sum upon death to your partner and dependants.
Working out how much life insurance cover you need to take out requires a bit of thought. There are rules of thumb that suggest up to 10 times your annual salary. However, if you want to be a bit more precise, you need to think about how much money your family would need to cover any loss of income.
You may get life insurance cover through your workplace so it's important to check what they provide before taking out a policy.
The cover amount is fixed throughout the policy and you can buy single or joint cover.