Life insurance is a policy that pays out a lump sum to your family or loved ones should you die or are diagnosed with a terminal illness, during the term of your policy.

We know you'd rather not think of the time when you're no longer around. But it's important to protect the things that really matter – like your loved ones, home and lifestyle – in case the unexpected happens.

It can also give you reassurance. It's quick and easy to set up. And it needn't be expensive.

Life insurance is a topic that people rarely want to think about, but there are certain life moments that can make you seriously look into taking out a policy. If you have people who depend on you, like children or a partner, then it can be sobering to think about what might happen to them if you were to pass away unexpectedly.

If you want to protect your loved ones against any uncertainty and be relaxed in the knowledge that, if the worst were to happen, your dependants would at least be financially covered, you might want to research getting a life policy. Common life moments that prompt people to take out a life insurance include getting married, having a child and buying a house. However, there are plenty of other reasons.

Your monthly payments will continue until the earliest of these:

- The end of the term of your policy

- Your death

- Our acceptance of your diagnosis of a terminal illness

If you make a claim after being diagnosed with a terminal illness, please don't stop paying your monthly payments until we've confirmed your terminal illness meets our definition, as per the Terms and Conditions.

A cash sum payment will be made if you die or are diagnosed with a terminal illness, within the term of the policy.

We'll pay it out early if you're diagnosed with a terminal illness that meets the definition (as per the Terms and Conditions) with a life expectancy of less than 12 months. We only pay out for terminal illness once, and the policy will end once we do. The policy is not guaranteed to pay off your loan or mortgage (if this is the purpose of the policy). The policy has no cash-in value. The policy ends if you stop making monthly payments during the payment term. Your cash sum is dependent on your age, smoker status, length and type of cover your personal circumstances.

When you apply it is important that you answer our application questions honestly and accurately, as proving incorrect answers could mean that a claim is not paid

Even if you don't have a mortgage, life insurance could help your family cover the cost of everyday living and maintain their lifestyle. Things like rent, private or university education costs, birthdays, weddings all need paying for. You may even need cover to pay for domestic tasks if the person left behind has to pay someone to do them after you're gone.

It pays a cash sum if you suffer from heart attacks, strokes (depending on the severity), coronary artery or certain types of cancer that meet our definition during the term of your life insurance policy. At such a difficult time, it can ease financial pressures on you, your family or your partner – like helping pay for a mortgage, rent, everyday living costs, even modifications needed to your home as a result of your illness. Find out more about our critical illness benefit.

How does someone claim on my life insurance policy? Losing a loved one is a difficult time. The last thing those you leave behind need is a drawn-out claims process.

When the time comes, we'll make it easy for your personal representatives to claim the cash sum from your policy. If you've recently lost someone and need to claim, you can find all of the information you need here.

Joint life insurance protects two people under one policy with one monthly premium payment, but only pays out once if a policy holder dies within the term. Two single policies protect each policyholder separately but will mean paying two premiums each month. Which option is right for you?

Serious conditions can affect anyone, at any age. Children’s cover is like your own critical illness cover, you can use the lump sum to pay medical bills, care costs, and adapt your home to accommodate a changing lifestyle.