Level Term Life Insurance has a level of cover which remains the same throughout the term of your policy. You decide the level of cover and the number of years the policy will be in force.
Life Insurance
Decreasing Mortgage Life Insurance
With Decreasing Mortgage Life Insurance, the level of cover decreases in line with a standard repayment mortgage, so you are only paying for the life cover you require.
Critical Illness Insurance
Critical Illness Insurance will pay out a lump sum upon diagnosis of a specified critical illness. You decide at the outset the level of cover you require and the number of years the policy will be in force.
Life Insurance
Caring for your family is the number one priority in life for most people, but what would you do if you were no longer there for them? Who would provide financial support, pay the mortgage fees and bear the costs for the funeral? Rates for life insurance have changed over the years and life cover can be relatively inexpensive nowadays. Deciding to purchase a life insurance policy to protect your family is a very important lifetime consideration.
There are a many reasons to purchase a life insurance policy. Term insurance may be used to protect your family or even your business or as funeral cover in the event of your death. Mortgage Protection is designed specifically to pay off your mortgage and the amount it pays out will normally decrease over time in line with your outstanding mortgage debt. You can purchase a joint life cover policy, which insures two people on the same policy with the sum insured being payable on the first death only.
Using our web site you can get quotations for the life insurance that you are looking for, our competitive comparison price service can provide on line quotes with some of the most competitive rates in the market from a panel of leading insurers.
Life insurance is not only important for you, but it is crucial for the protection of your partner and children. Here are a few ways by which life insurance can help ease the financial pressure on your family in case of an untimely death.
- It can help repay your mortgage.
- It can used to help finance costs of education now and in the future.
- It can be used to help towards the day to day costs of living.
- It can be used to pay off personal loans.
There are two types of non-investment fixed term life insurance policies, namely level term life insurance and decreasing term life insurance. Usually, these are the most affordable policies that you can find in the market, and are mainly designed to provide high levels of insurance, with low monthly premiums.
Level Term Life Insurance
In this policy, a fixed lump sum amount shall be paid to the beneficiaries in case of your death at any point during the chosen policy term. In this type of policy, the amount of money you are covered for remains constant throughout the term of the policy. You can set up the level term life insurance policy to cover a single policy holder, or you can also purchase a joint policy, covering two lives, where the sum insured is payable on the first death only. Generally, This type of policy normally also provides cover for a diagnosed terminal illnesses without any extra charge.
Decreasing Mortgage Life Insurance
The decreasing mortgage life term insurance policy can help you to clear your mortgage debt in case of the policy holder's death. The amount of cover decline's in line with the outstanding balance on a standard repayment mortgage, the policy is generally as known as 'decreasing mortgage' life insurance.
Similar to level term life insurance, you can choose whether you want to cover a single person or two people in a joint life basis where the sum insured is payable on the first death only. You will decide the length of years for which the policy is applicable, and you will be able to decide the amount of cover. This type of policy normally also provides cover for a diagnosed terminal illnesses without any extra charge.
Critical Illness Insurance
Critical Illness cover can either be purchased as a standalone product or can be added to most level term life insurance and decreasing term life insurance policies for an increased premium. By adding Critical Illness benefit the policy will pay out either on death or the diagnosis of a specified critical illness, whichever event occurs first.