If your mortgage equals $300,000, when you take out the insurance, your cover amount would be exactly equal to this.

When you choose any lump sum you would like. situation changes over time you might find that you need a greater amount of life insurance

With a normal life insurance plan, the cover is very straight-forward – if the insured person dies or is terminally ill, the claim will be paid by the life insurance company. This means that the insured person’s family is protected if the insured person dies or is terminally ill.find more about life insurance and health insurance..