THE SIMPLEST FORM OF LIFE ASSURANCE
Term Assurance is a simple and inexpensive form of life insurance that pays out a lump sum (the sum assured) in the event of the death of the policyholder as long as the death occurs within the constraints of the policy.
Term Assurance is most commonly used alongside Mortgages and is necessary to ensure that your family and dependants will not suffer financially if the worst should happen.
Term Assurance is also used for covering Key Employees, Business Partners or where there is a financial risk or interest.
As Term Assurance is taken out over a specific period of time there is no guarantee that the cash lump sum will be paid out as the policy holder may die after the termination date of the policy. It is however a more cost effective way of taking out life cover.