A life insurance plan pays out a cash lump sum if the person(s) insured dies during the term of the plan. The lump sum can be used to provide financial support to your family and loved ones, who might otherwise struggle to pay the mortgage, bills and other living expenses without your income.

No, your Life Insurance plan provides life cover only and there's no cash-in value at any time. At the end of your plan term, you stop making payments and your cover ends.

It's a Life Insurance plan where the amount of life cover stays the same for the duration of the policy term. It could be the right sort of life insurance to choose if you want to provide a specific amount of money for your family and loved ones.

It's a Life Insurance plan where the amount of life cover reduces during the plan term. It could be the right sort of life insurance to choose if you want to cover a repayment mortgage or other loan because, as the outstanding balance of the loan reduces, so does the amount of cover.

That depends on your personal circumstances. You should consider factors like:

• how much your family would need to support themselves without your income

• the size of your outstanding mortgage loan and how long it's got to run

• any other outstanding debts you have.

If you're still unsure, try our life insurance calculator.

Most people want their Life Insurance plan to run until a key date in the future. For instance, it could be when you intend to retire, when your mortgage is paid off or when you think your children will become financially independent. Work back from that date and that will help you decide on the number of years you need to be insured for.

Yes. You can have joint life cover that pays out if one of you dies during the plan term. Only one pay-out per plan can be made.