Some people find it difficult to see the value of life insurance if there is no payout on death.

And I could bang on about things like peace of mind and the value of knowing your loved ones are ok should the worst happen

But instead, let's look at what I call living benefits of life insurance (or what you can get while you're still above ground)

Imagine you were diagnosed with a serious illness? How much would you value a free second opinion from one of the world's leading doctors?

If you have a policy with Aviva, you have access to just that.

Today is the day we're training to meet Mike Tyson in the ring.

If you ever did meet Tyson in the ring, there's a good chance you're not coming out alive.

So for this particular conversation Tyson is death, I'm your trainer and we're here to ready you for the day Tyson comes a callin'.

Hopefully, it never happens.

So we have the chats, talk about income replacement, see how much cover you need to take care of your family. We calculate a figure, discuss the different insurers, settle on a premium. You're happy, I'm happy. We put €1m cover in place, shake hands and hope for the best.

Two years later...

It may have come as a huge shock to be declined or postponed.

In this article, I discuss the reasons why this has happened.

And what you can do about it.

Many people don't even think about shopping for life insurance until they actually have children, but it's a good idea to plan for the future by buying life insurance coverage when you're pregnant or even before you become pregnant.

Sooner rather than later.

Forget about all the other stuff, the buggy, the car seats, the multitude of What to Expect When You're Expecting books. Whether you buy them today or in three months time, the price won't change.

However, with life insurance, the cost of your policy can go from the normal price to multiple times that amount if you develop any complications.

It depends on the relationship between the dead person and the person getting the moolah.

If you're married, there is no tax liability.

Let's look at the case of JR and Sue-Ellen.

Sue Ellen had a life insurance policy in her name for a cool €10 million.

Paying for insurance is a PITA.

Car insurance, house insurance, gadget insurance, pet insurance, life insurance, health insurance, the list is endless.

It's all a massive waste of money...until you make a claim and then it's the most important few quid you've ever spent.

I took a look at my own life cover recently to see if I could save a few bob so I thought it would be helpful to outline my thought process around changing it up into bite-size pieces.

Meet Bob.

Bob is 25. He likes to drink pale ale and enjoys taking me-time to moisturise his beard with special oils he buys off the internet.

Bob also really likes Nickelback and Coldplay, but he can’t admit that out loud because it’s not cool. Bob’s been doing some reading and has decided to get his personal finances in order: and top of his list is to look into Life Insurance.

As consumers, we're fascinated by comparisons.

We love knowing the best, the worst, and everything in between.

And having all the information in the world at our fingertips has made us even hungrier to find out all we can before we make a purchase.

So today, to save you from spending hours on the interweb trying to compare insurers, in this article I'll do it for you.

Many people view life insurance as nothing more than a transaction—you give the insurer money, and the insurers pay you money if you die.

But what if we saw it as more than just paperwork?

What if we saw it for what it really is – a protective bubble around your family finances, ensuring the ones you love the most are secure regardless of what happens to you?