Term life pays a fixed amount if you die during a set period. It is cheap because most policies never pay out.
Sizing the cover
Add what would need replacing: remaining mortgage, years of income your household depends on, and future costs like education. Subtract existing savings and employer cover.
Choosing the term
Pick a term that ends when the dependence ends — usually when the mortgage is paid or children are independent.
Permanent policies
They mix insurance with an investment wrapper and cost far more. For most households, buying term and investing the difference is simpler and cheaper.
