Life Cover

This type of policy will pay out a guaranteed cash lump sum if the person insured dies during the term of the policy, or is diagnosed as suffering from a Terminal Illness. This type of life Insurance policy is also sometimes known as Level Term Cover, or Level Term Life Insurance.

Both the amount of life cover, and the premiums paid, remain fixed throughout the policy term. This means the policy will be worth the same amount at the end of your policy term, as it was at the beginning. If the sum insured is paid out, then the policy ends. This policy has no cash in value at any time.