Life cover is a long term insurance policy that pays out a cash lump sum to your nominated beneficiary in the event of your death.

If you have a partner or family who depends on your regular income, you need to be sure they would cope financially if you were no longer around. One must remember that your family members would still have to find money to cover the monthly costs of living should you die prematurely.

Life cover is also used to pay off any remaining debt such as a mortgage if you were to pass away.