Types of life insurance

Decreasing term life insurance (mortgage terms assurance)

Level term life insurance

Terminal Illness benefit

Critical Illness cover

Family income benefit

Additional options

Decreasing term life insurance (mortgage terms assurance)

The benefit payable from this type of policy reduces with the balance of your mortgage, ensuring you can repay the balance of your mortgage in the event of a claim – providing you have kept up to your contractual mortgage payments.
A cost effective way of insuring your repayment mortgage or loan. Read more about life insurance

Level term life insurance

The benefit on this type of policy remains the same through out the term so you always know, should the worse happen there will be adequate benefit for those that need it.
A great way to provide benefit for those dependent on you or if you have an interest only mortgage. Read more about life insurance

Terminal Illness benefit

Included free and as standard with most life insurance policies, it means your policy benefit will be paid on diagnosis of a terminal illness (an illness you are expected to die from within 12 months)

Critical Illness cover

Critical illness is an additional benefit available when term life insurance is purchased, or it can be taken as a stand alone policy. This cover is designed to pay out a fixed cash amount upon diagnosis of a specified critical illness. Many life insurance providers cover the same types of critical illness, though some cover more than others (e.g BUPA). So it is worth checking out our Critical Illness Cover comparisons... Read more

Family income benefit

This type of cover pays a fixed income on death of the person insured, until the end of the policy.
A good cost effective way of providing an income for dependents after death.

Additional options

Guaranteed premiums – the insurer guarantees never to change the rate you are paying
Reviewable premiums – the insurer can reassess your premiums (up or down) usually every 5 years
Increasing benefit – maintains the value of your policy by linking it to inflation, your premium will increase with inflation too
Waiver of Premium – with this option the insurer will pay your premiums in the event of illness or incapacity, if it lasts beyond a certain length of time
Premium frequency –you can pay your premiums monthly or annually