Life Insurance

Life Insurance is used to fulfil a variety of different protection needs, but essentially boils down to a common set of questions for every purpose: How much is needed if the worst happens? and How long is the cover needed for? Below are listed the main variations of Life Insurance.

Life Insurance Options

Decreasing Term Assurance is when the sum assured reduces over the term in line with the reducing balance of your repayment mortgage. This type of cover is cheaper than level or increasing term assurance.

Level Term Assurance is when the sum assured remains the same throughout the term of the policy and will pay the full amount on a claim at any point during the term.

Increasing Term Assurance is when the sum assured increases every year without the need for a medical. This type of cover is important if you need the benefit provided to be safe from erosion by inflation.