A thorough “life insurance needs analysis” looks at your current and ongoing expenses, plus your future expenses like university, or your funeral. But simply adding up all those numbers could amount to a bigger policy than you need. You should also subtract assets that can go toward those expenses, such as savings and investments.

Yes. It may be possible to add a child or children to your life insurance policy, but it will depend on the insurer and the policy.

Yes. Insurers paid out more than 97% of term life insurance claims in 2018, according to the Association of British Insurers (‘term’ refers to life insurance policies which run for a set time period, usually until retirement).

As long as the terms of the policy are met, an insurance company will pay.