Life Insurance

Simple and cost effective Term Life Insurance

There are many types of life insurance cover. The life insurance policies we provide are called term assurance.

A term assurance policy provides a fixed amount of life insurance (the sum assured) for a fixed period (the term) in return for the payment of a fixed monthly premium that is set at outset and will not change. At the beginning of the plan you decide how much cover you need and over how many years you need it.

If you die within the term of the plan the sum assured will be paid out tax free and the plan then ceases. If you survive to the end of the term, the plan ceases and there is no payout. As a result, this is the simplest and most cost effective form of life insurance available in the UK.

Term assurance is by far the most popular form of UK life insurance - with over 1.5 million new policies arranged in 2007 (source: Swiss Re Term and Health Watch 2008).

A term assurance plan can be set up to cover just one person (single life) or more than one person (joint lives). There are a number of different options that can be built into a term assurance plan.

The cost of term life insurance varies depending upon your age, gender, your health and smoking status.

To find out how little term assurance could cost you use our online quotation engine to compare life insurance quotes from leading UK life insurance companies on your screen in seconds. Of course life assurance costs also vary from one insurer to the next so it is important to shop around.

If you stop paying the monthly premiums for your policy then the cover will cease.

There are a number of different types of life insurance, each designed to do a slightly different job. It is important you choose carefully which life insurance is best for you.

Here we try to explain life insurance as simply as possible, if you want the technical stuff see our glossary or the documentation available with your online quote.

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