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What is Level Term Life Assurance?

Level Term Assurance Policy Features:

  • ŸA policy for a fixed number of years.Ÿ
  • A guaranteed sum assured (amount of cover) paid on death during the term of the policy.Ÿ
  • No cash in value at any time.Ÿ
  •  No surrender value.Ÿ
  •  Premiums can be guaranteed or reviewable throughout the term.

Many companies now offer the option to increase the sum assured in line with inflation - your monthly premium will also be increased annually by the same percentage.

Level Term Assurance Policy Benefits

  • Life cover for family protection.Ÿ
  • Life cover for interest only mortgages.Ÿ
  • Can be purchased with or without critical illness cover.Ÿ
  • Normally includes terminal illness benefit as part of the standard policy.

Level Term Assurance Policy LimitationsŸ

  • You may want to extend the term, but this is not possible.Ÿ
  •  If your state of health changes during the policy term you may not be accepted for any further life assurance.Ÿ
  • No investment element.Ÿ
  • The fixed sum assured will not take account of inflation unless you choose a company which offers this facility at the beginning of the policy.