Term Life Insurance

The simplest and cheapest form of life insurance

Term insurance provides cover for a fixed term with the sum assured payable only on death. You can choose how long you're covered for, for example, 10, 15, or 20 years (the term). This is the simplest and cheapest form of life insurance.

There are no investment benefits or payments on survival. Premiums are based primarily on the age and health of the life assured, the sum assured and the policy term.

The older the life assured or the longer the policy term the higher the premium will generally be.

Term insurance policies can be written on a single life, joint life (first or second death) or on a life of another basis. You must have a financial interest in the person that you are insuring when taking out any life of another policy and the provider may require proof of this before cover is given.

Types of term insurance:

• Level term
• Decreasing term
• Increasing term
• Index linked term
• Convertible term
• Renewable term
• Family income benefit

Independent Advice

Use our life insurance advice service provided by one of our independent partner firms and receive a no obligation quote.

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