Term Life Insurance is life insurance that covers you for a specified and agreed length of time. In the event of death during this time, a cash lump sum will be paid out. It is particularly important to have for the key years that you might have dependants who rely on your income.
Term Life Insurance is life insurance that aims to provide a lump sum if you die (if you choose life cover) or to provide a lump sum if you are diagnosed with a specified illness during the term of your plan (if you choose specified illness cover).
Some important points regarding Term Life Insurance available on this plan:
- You must be aged between 18 and 77.
- The maximum term is 40 years or up to age 80
- The amount you pay is guaranteed to stay the same for the entire period that you are insured for.
- You must keep up payments to stay on cover.
Find out more about other services that may be available to you like LifeCare.