6 Reasons you need life insurance

1. You are the breadwinner in your household.
If you are the breadwinner in your family, then you need a life insurance policy to replace your income when you are gone. With a life insurance benefit, your family will be able to cover living expenses your income would have covered. This is also a reason to consider a serious illness policy as you will get a lump sum payment if taken ill and unable to work. 

2.You want to cover your funeral expenses. 
The average funeral costs between €4,000-€7,500. That's a lot of money to put on your family's shoulders after you pass away. So to help your family cover this cost of your funeral, plan ahead and get a life insurance policy. Life insurance proceeds can help provide immediate cash at death and take care of some of the deceased's debts and funeral expenses. 

3.You are a homeowner with a mortgage.
Firstly, a Mortgage Protection policy is a requirement when drawing down a mortgage. Also, mortgage repayments are perhaps the biggest monthly expense. If your income covers the entire monthly repayment or even a portion of it, you need a life insurance policy so that your family/spouse won't have to struggle to find extra money or leave their home when you die. 

4. You are a divorced/separated parent and paying child support. 
If you are a single parent and you are now paying child support, then you need a life insurance policy so your child can still get money you would have otherwise paid in child support. the life insurance payment would provide help with everyday expenses such as food, clothing, education for your children.   

5. You are a stay at home parent. 
If you are a stay at home parent to look after the children and run the household while your partner goes to work, you need a life insurance policy, because one you are no longer around all of the work you used to do around the house will need to be done by someone else. A life insurance lump sum payment can help to pay for things such as childcare, etc. 

6. You have loved ones that count on YOU! 
If your loved ones depend on you to take care of them financially you are someone who needs life insurance.