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What is Term Assurance?

Term Assurance is the simplest type of protection policy available.

It has a specific amount of cover, known as the Sum Assured, which is chosen to suit your own needs. You decide how long you need the protection for, known as the Term.

Hence the name Term Assurance.

In the event of a claim during the Term the Life Assurance company will pay to you, or your beneficiaries (or dependants) the Sum Assured as a tax free lump sum. If you survive the term the policy ceases.

There is never a surrender value at any time, so if you no longer require the cover you simply stop paying the premiums without any penalty.

Click the following links to see term assurance shown in picture form. "A picture paints a thousand words"

LEVEL TERM ---- DECREASING TERM ---- A MIX OF BOTH