Do my personal circumstances merit Life Assurance

[dsvd]

Hi I am an single expat with no dependents or mortgage living in England with a credit card debt £6k in the country where I was born.
I intend fully to work the debt off. Do I need life assurance in place to cover my foreign debt
and funeral expenses so there is no financial burden on my realtives back in the country where
I was born?

Your thoughts.

[sara3]

I'd say you don't NEED it, but it would be fair to cover your debts.. unless you have other assets to of-set them.

[buildersmate]

What you probably want is Term Insurance - insurance on your life that forks out a fixed sum into your estate in the event that you die. Not very expensive for people under 40 (who tend not to drop dead too frequently).

[Whoever]

I think the decent thing to do would be to take out some term life assurance sufficient to cover your debt and your funeral expenses. Would you really want your parents or brothers/sisters to have to pick up the bill for your funeral if you died unexpectedly? I don't think your relatives could be forced to pay off your debts, but certainly somebody will have to pick up the bill for your funeral unless they refuse and you end up having to put buried in a paupers grave. What happens if they found themselves in a situation of financial hardship themselves and then found they had to pay unexpectedly for somebody else's funeral as well. Or you could take out two smaller life assurance policies - one to cover your debts and one to cover your funeral expenses and then cancel the one for your debts once you've paid them off so that your annual premium outlay would then be less.