Whilst many people don’t want to have to think about it, life insurance can be important. It can give your family and those who rely on you an assurance of income in the case of your death. Here are some of the key considerations to take into account when thinking about whether you need life insurance:

• Do you have any dependants? This could include children, partners or other family members who rely on you for financial support.
• Do you have death in service as part of your employment package? If you do, this may already cover anything that your family needs in the event of your death. Check what exactly the policy entails and make your decision based on the facts.
• What is your current health like? This will affect your premium. If you are younger and in good general health, life insurance can actually be very cheap. However, if this is not the case your premiums are likely to be higher and you may not be covered for existing conditions.

Life insurance can be a necessity, or it might not be worth it, depending on your current situation. Check what your employment package covers, do some research into policies and decide from there what you best approach is.