Level Term Assurance
Level Term Assurance policies guarantee to pay out the policy benefits (sum assured) if the life assured dies within a given time (the term of the policy). If the life assured lives to the end of the policy term, no benefit will be payable.
Level Term Assurance policies are taken out for many reasons, including:
1. To provide life cover to protect your mortgage
2. To provide life cover to protect a dependent
3. To provide life cover for a business partner or key employee
There are several types of Term Assurance policies available to suit different circumstances. Under Level Term Assurance policies the sum assured remains level throughout the term of the policy and the monthly premium remains unchanged.
You can include various features in these policies such as 'critical illness', 'waiver of premium' and 'indexation'.