Life insurance/assurance is designed to pay a cash lump sum to the family of the deceased person insured. It helps your loved ones financially upon your death. The money can be used for whatever the family needs to use it for like having an income if the deceased person is the main income earner in the household or for funeral expenses. You do not have to have a mortgage to have life insurance. There are many forms of life insurance. Please feel free to ask us what are available.