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Overview
Term life insurance is a simple and inexpensive
form of life insurance policy that pays out a lump sum
(the sum assured) in the event of the death of the policyholder,
and is necessary to ensure that your family and dependants
will not suffer financially if the worst should happen.
Term insurance is usually available on either a single
or joint life basis and some plans also have additional
benefits such as paying out on the diagnosis of a terminal
illness during the term of the policy. If the policyholder
or policyholders are alive at the end of the term the
policy expires and no payment is made. If you stop paying
premiums at any Stage during the term, the policy lapses
and has no value.
Section Guide:
- There are a couple of different
types of Term Assurance, this guide will help you
to see the differences.
- Check this section out to see some
of the additional benefits.
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Term
Assurance Guide
