Level Term Life Insurance

Level Term Life Insurance means that the life cover you would receive remains constant throughout the length of the policy term. The pricing of your policy is set on the basis that you would receive a full payout if you should die at any point during the policy term. The 'sum assured' or the amount that you would receive as a payout in the event of your death during the policy term would remain unchanged throughout. The amount that you would pay each month towards the policy, known as the premium, would also remain unchanged. People usually choose Level Term Life Insurance when they want to ensure that if they should die unexpectedly, they would be able to continue providing for their partner or family.

The fact that the lump sum payout does not change (unlike Decreasing Term Life Insurance) means that the payout could be used for other expenses such as school or university fees and other unforeseen debt when the mortgage loan had been paid off. Due to the fact that it is 'Term' insurance, the insurer would only pay out if you were to die within the pre-agreed period of the policy. This means that if you had a policy in place that would pay out £200,000 if you were to die within the next 20 years, the policy would be void if you outlived this period of time. It is worth speaking to a professional insurance adviser to explore your options, and to receive a no-obligation quote based on your personal circumstances. If you would like to speak to someone, please complete the short form on the following page.

Get a no-obligation Level Term Life Insurance quote today!

Important Tips for Buying Life Insurance

• Life 'Insurance' is different from Life 'Assurance' because it is not a certainty.  You would insure yourself against something unexpected happening, but would take out Assurance to minimise your financial exposure to something inevitable.

• If you take out any type of 'Term' insurance product, this means that you are choosing a set period of time when your cover will be active.  Beyond this period, your cover is no longer valid.

• The policy will be cheaper the less 'risky' you are to an insurer.  If you smoke, are in poor health or enjoy high-risk sports, statistically you are more likely to die, and therefore the cost of your premium will be higher.

• Joint policies for couples should be approached with a certain amount of caution.  The average joint policy pays out only after the first person dies, but for a relatively small amount more you could get separate policies with two payouts, which would have a greater benefit for your family (especially when you consider the expense of inheritance tax).