Life Insurance
A financial safety net that protects the people who matter most
Life insurance is one of the most important financial safety nets you can have. It provides a tax‑free lump sum payment to your loved ones if you pass away or are diagnosed with a terminal illness, helping protect them from financial hardship at an already difficult time. In 2026, life insurance continues to play a crucial role in supporting families, paying off major debts, covering final expenses, and securing long‑term goals such as children’s education or a partner’s retirement.
A life insurance payout can be used for everyday living costs, mortgage repayments, funeral expenses, and future financial commitments, giving your family stability when they need it most. Many modern policies also include early payment for terminal illness, ensuring support is available when time and resources matter most.
Choosing the right level of cover depends on your income, debts, dependants, and long‑term plans. Our team works with a range of insurers to help you understand your options and find a policy that fits your needs and budget - now and into the future.
Your family is worth protecting. Let us review your life cover for free and give you peace of mind.
Understanding Life Insurance
Life insurance is designed to provide financial security for the people who depend on you. Below are the key areas to consider when selecting the right policy.
What Life Insurance Covers
Life insurance typically provides a tax‑free lump sum to your beneficiaries. Common coverage areas include:
Death by any cause: including natural causes, accidents, and illnesses such as cancer.
Terminal illness: many policies pay out early if you’re diagnosed with a terminal condition (usually defined as having less than 12–24 months to live).
Living expenses: support for everyday essentials like groceries, utilities, and childcare.
Major debts: repayment of mortgages, personal loans, or credit card balances.
Final costs: funeral and burial expenses, which can exceed $10,000 in 2026.
Future goals: funding children’s education, long‑term savings, or a partner’s retirement.
Why You Need It
Life insurance provides stability and peace of mind for those who rely on your income or support.
Income replacement: ensures your family can maintain their lifestyle if you’re no longer there to provide for them.
Mortgage protection: helps your family stay in their home by clearing the outstanding balance.
Locking in lower rates: purchasing cover while young and healthy allows you to secure significantly lower premiums.
Business continuity: supports succession planning or repayment of business debts if a key person passes away.
Living benefits: optional riders can provide funds for critical illness or disability, helping cover medical costs or replace income while you’re still alive.
Premium Structures: Stepped vs Level
Choosing how your premiums are structured is one of the most important financial decisions you’ll make about your policy.
Stepped premiums: Start lower but increase each year as you age (often 2%–15% annually). Affordable early on, but can become expensive in your 50s and 60s.
Level premiums: Higher at the start, but remain fixed for a set period (e.g., until age 65 or 80). This provides long‑term stability and can save thousands over the life of the policy.
We help you compare both options and choose the structure that best suits your long‑term financial plans.
Key Factors That Influence Your Life Insurance
Several elements affect the type and cost of life insurance available to you:
Age and health: younger, healthier individuals secure lower premiums.
Lifestyle factors: smoking, hazardous work, or high‑risk hobbies can increase costs.
Income and debts: higher financial commitments often require higher cover.
Family situation: dependants, childcare needs, and long‑term goals influence the level of protection needed.
Business ownership: may require additional cover for loans, partners, or succession planning.
At C&R Insurance, we help you assess these details so your policy accurately reflects your needs today — and the future you want to protect.