Life Insurance

Life insurance (sometimes known as life assurance) is designed to pay out either a single lump sum or a regular income when you die.

Term Insurance

You choose how long you’re covered for, eg. 20 years (the term), and the policy pays out if you die within the agreed term.

You can also take out term cover as a couple, with the policy paying out on the first death only during the term.

There are several different types of policy:

  • Level: The amount of cover and premiums remain the same
  • Increasing (or index-linked): The amount of cover and premiums gradually rise in line with inflation
  • Decreasing: The amount of cover gradually reduces. Generally used to protect a repayment mortgage where the amount of the loan outstanding reduces each year
  • Renewable: You can extend the original term of the policy
  • Convertible: Lets you convert the policy to whole of life insurance

Family income benefit insurance

Family income benefit insurance will pay out a regular income instead of a lump sum. This provides ongoing financial support to dependants on your death.

Whole of life insurance

Whole of life insurance pays out a lump sum when you die, whenever that is, as long as you are still paying the premiums.

Find out what life may have in store for you

We all hear news of a friend or a relative who

  • is off work for a few months, or
  • has been diagnosed with a serious illness, or
  • has unexpectedly died.

It’s shocking and all the more difficult to imagine it happening to us.

What are your chances?
Are you prepared?

Enter just a few personal details to see the Protection Calculator results for you.