A surviving partner with children has enough worries without the need to find and pay for a new place to live. Insurance which covers the loss of the ability to repay a mortgage other than in the event of death can be very expensive. Life insurance with no frills with no profits payable on the death of either partner is seen by many to be essential cover for the early years of a relationship. For a low annual payment usually fixed over the period of the policy a lump sum is paid on death. The lump sum usually increases the longer the policy is in force.
Term insurance is basically a method of saving with an element of insurance.
After an agreed term if the insured survives a lump sum is paid out. This can have an element of life insurance. This can be set up to be with or without profits. To some the with profits type of saving is for optimists. There is little control over how companies calculate or make the profits.