Term Life Assurance

There are many items in our budget that we have trimmed over the years, and some expediture such as  life insurance has come up for discussion. Although there is no immediate benefit in paying insurances of this nature, you would have to consider very carefully before deciding to step out without adequate insurance especially if you have acquired more dependants (as one tends to do...).
I question the need for insurance to protect income in the event of simple job-loss because I would rather force myself into a low-paying job rather then have an insurance paying me to sit on my back-side. I know an instance where a young man found himself unable to work without jeopardising his insurance which was paying a large mortgage for him..
However, insurance that provides cover for serious illness that will prevent you ever working again is certainly worth keeping up even in stringent times. I know of anither story where a young man in the Navy was injured overseas, the Navy dismissed him because of his injuries, but were not automatically going to award a pension as he was off his ship at the time of the accident - he had no compensation even though his injures were horrific, and because he had Navy accomodation his family were also evicted from their house...
Insurance is a bit of a pain until something like that happens to you...