Level/Decreasing Term Assurance

Term Assurance is a life assurance policy that runs for a specified period of time. Cash lump sums are free from Income and Capital Gains Tax and will only be paid out to the estate or beneficiaries if the life assured dies within the policy term.

Level Term Assurance

Straight forward life cover if your client wants to leave a cash lump sum to provide for their family or business (Business Protection) if they die within the policy term.

Decreasing Term Assurance

Life cover which is often used to repay the outstanding balance of a repayment mortgage or other reducing loan if your client dies before the mortgage or loan has been repaid.

Please note: for regular premium policies for Level Term Assurance and Decreasing Term Assurance, cover will cease if your client stops paying the premiums.

Terminal Illness

Level Term Assurance and Decreasing Term Assurance policies come with Terminal Illness Cover. This will pay out a guaranteed tax-free lump sum to the value of the sum assured if diagnosed with a medical condition which is expected to cause death within 12 months where the diagnosis is agreed by our Chief Medical Officer.

For term policies, the diagnosis must be made whilst there are more than 18 months before the policy expiration date for the claim to be valid.

Suitable if your client:

  • Is looking to protect a repayment mortgage or loan
  • Wants to leave behind a lump-sum for your dependants
  • Only requires cover for a fixed term.