We believe that any individual is entitled to impartial, well-researched advice on their personal financial situation. In order to objectively provide this service we offer a financial needs analysis to assist our clients with meticulously ensuring that their financial affairs are in order in the event of their death.

While most of us tend to put off thinking about life insurance it is important that you make sure loved ones will be left financially secure in the event of your death - and the solution could be a whole life insurance policy.

However, with so many different types of life insurance, it is no wonder that people get confused as to what life insurance is and what the different types mean. Simply speaking, life insurance pays out a lump sum upon your death which will help your family continue to pay the bills and have a roof over their head.

If you are still not convinced about life insurance, digest the following - if you have a mortgage bond or rent to pay, a spouse or a partner and/ or dependants, then how would they cope if they suddenly did not have your salary to pay the monthly bills? Would they be able to afford to keep a roof over their heads or carry on living the same lifestyle without your income? And, most importantly, would you want them to have financial difficulty added to their grief?

Put simply, life insurance allows an individual to pay a monthly amount (called a premium) to a company in return for their promise to pay out a relatively large amount of money in the event of the insured person's death. The premium is based on the size of the benefit provided and is calculated according to the insured's demographic and risk rating information.

When buying life insurance there are some basic things you should consider:

• Before purchasing a life insurance policy, consider your financial situation and the standard of living you want to maintain for your dependents. For example, who will be responsible for funeral costs and final medical bills in the event of your death? Will there be adequate funds for home loan payments, education and other living expenses?

• You should re-evaluate your life insurance needs whenever you experience a major life event such as marriage, divorce, the birth or adoption of a child, or purchase of a major asset such as a house or business.

A DSA Advisor can help you through each step of planning for the event of death and purchasing an adequate policy to meet your financial needs and objectives for your dependants.