Life & Mortgage Protection

Type of Cover

Level Term Assurance:

This cover remains the same for the term of the contract, as does the premium, you can have an indexation option to provide for inflation.

Convertible Term Assurance:

This cover is the same as for the level term assurance, but at the end of the term there is an option to continue cover without any further medical evidence being submitted. Premiums and benefits will remain level over the term of the contract.

Mortgage Protection:

The premium will remain level and the benefit will decrease over the term, it is generally used in conjunction with a mortgge, to repay the outstanding mortgage balance.

Pension Term Assurance:

Pension Term Assurance is life cover that pays your dependents a guaranteed lump sump if you die during the term of the plan. The advantage of this type of life cover is that it costs you less because if you are eligible you can claim tax relief on your contributions.

Whole of Life:

There is no policy term, the policy continues until the death benefit is paid providing you continue to pay the premiums, however premiums are re-calculated after the 10th anniversary and every 5 years thereafter.

Dual Cover:

This means that both lives are covered independently, that seperate payouts on the death of both lives assured.

Joint Cover:

This means that there is only one payout, which will be paid on the first death.