Not necessarily. Although a payment of three to five times your salary can look rather generous at a first glance, you’ll need to know how long that sum will keep your family or dependants protected. Whether or not your current job is stable, you might be better off learning first about all your options and read our information hub on life insurance.

Also, it’s worth keeping in mind that – by not having life insurance today – you’re at risk of higher payments in the future if you take out a policy later in life. That’s because people often face higher premiums as they age. That’s particularly true if you have health conditions you’ve suffered from before you opted for life insurance. Learn more about pre-existing medical conditions and how they could potentially affect your insurance.

Remember, each policy will be different so it’s crucial that you read any policy terms with care. It may be that a combination of the two is the best method of ensuring the financial future of your loved ones.