Term Insurance – The inexpensive way to protect your loved ones
Term Insurance
Term insurance is the cheapest ways of guaranteeing protection for your family should the worst happen. It consists of a single pay out to your family or dependants that is built up over a specific amount of time. With some policies, this pay out can come at the point of diagnosis. You must continue to pay the policy otherwise it becomes obsolete and no payout will be made. Also, if you are alive at the end of the term agreed then no payment shall be made either.
Can we save you money on your life insurance or critical illness?
|
|
 |
 |
Varieties of term insurance
- Level Term Insurance: This is set in place to make a payout should you die during the terms of the policy. You must agree a term and amount you wished to be paid out. Once the amount is agreed, it stays unchanged throughout the term of the policy.
- Decreasing Term Insurance: This can also be known as Mortgage Protection. The pay amount decreases as time goes on as it is designed to protect assets such as capital and mortgages as they decrease as time goes on too.
The more popular of the two varieties is the level term insurance but this is not to say that the decreasing term insurance is not still an option.
Additional bonuses
Critical illness insurance is also sometimes offered alongside term insurance, at an extra cost. This means that the payout will occur when the diagnosis of a critical illness has been confirmed. However, critical illness insurance does not cover every illness. A few of the ones that it does include are:
- Alzheimer’s
- Aorta Graft surgery
- Blindness
- Deafness
- Coma
or a comprehensive list of what is covered under critical illness insurance or to find out more about how you can take out a term insurance policy then contact Jump Life Insurance now on 0844 417 0894 or visit their website at: www.jumplifeinsurance.co.uk as they are specialists in the field of life insurance. A member of their team will be more than happy to answer any questions you may have.
Return to Jump Life Insurance articles index
Get a free online Life Insurance quote | Get a free online Critical Illness quote | Get a free online Mortgage Protection quote | Get a free online Income Protection quote | Return to the home page