What does life insurance cover?
There are different types of life insurance, but one thing common to all types of cover is that they will protect you should something unexpected happen to you.
Although life insurance isn't mandatory, it can provide financial assistance to you and your loved ones if the worst should happen to you. Think about it like this: what would happen if you became seriously ill or died? Would your family be faced with financial uncertainty? With life insurance, you are protecting your family and ensuring they will still be provided for should you become ill or die. With business insurance, you are protecting your business, and likewise, with mortgage cover, you are ensuring that if you die, your mortgage will still be repaid.
The type of insurance you need will determine what is covered, but, in general, life insurance covers your family and/or your business if you become seriously ill or die.