A few reasons why life insurance is a becoming must.

Buying life insurance can be one of the best financial steps that you take for you and your family. If you have children, or anyone financially dependent on you, you’ll want to ensure than you’re insured.

According to the Association of British Insurers, two out of three British people have life insurance cover. In 2013, more than 25,000 people claimed over £1.3 billion on the most basic form of life insurance. The average payout was £51,500 and most people will have been paying just a few pounds a month in premiums.

Not many people want to think about their death, and this type of cover isn’t the most glamorous, but if the circumstance should arise, a life insurance policy will provide money for your dependents – it can replace your income if you die.

Unfortunately, you are unable to rely on the Government. The money you would receive from the state is much lower than you’d expect – if you want to provide for your family, life insurance is a must.

This is all you need to provide your loved ones with plenty of financial protection. Remember, policies and prices do vary massively so it’s a good idea to shop around, comparing a number of policies before you settle on one.