Your questions answered

Q

Is it worth spending on a life insurance policy?

Jane, Haddington

A

‘Life insurance pays out a lump sum or regular payments to your beneficiaries if you pass away, so it’s important to consider it if you have any financial dependants, like a partner and children.

However, our research shows just 32% of people have it in place,’ says Lee Clark, financial planner at Brewin Dolphin (brewin.co.uk). ‘There are factors to consider, like how much cover do you need and how long you’ll want the policy to last for.’ For more information on life insurance, visit moneyhelper.org.uk.