Does Life Insurance have to be associated with a mortgage?
No. You can take out Life Insurance to provide a lump
sum for your family if you die.
Although most people consider Life Insurance in relation
to mortgage protection, it is also commonly bought to provide a tax-free
capital lump sum for the family. It can be spent in any way your family
wishes. This is an important consideration if you are the main earner
or even one of the main earners.