Life Insurance - Cover Details

We offer the following life insurance options:

Life Level Term

Life Level Term Insurance has an amount of cover which remains the same throughout the term of the policy. You decide the number of years you wish the policy to be in force and the level of cover you require at the outset. This policy will pay out on the death of the insured, or if critical illness cover is added, on the diagnosis of a specified critical illness. Whichever occurs first.

Mortgage Life Insurance

The amount of cover which a Mortgage Life Insurance policy provides decreases in line with the outstanding balance on a standard repayment mortgage. You choose the length of the policy (which is usually the same as the remaining years on your mortgage) and the initial level of cover at the outset. This policy will pay out on the death of the insured, or if critical illness cover is added, on the diagnosis of a specified critical illness. Whichever occurs first.

Critical Illness Cover

A Critical Illness policy pays out a lump sum upon diagnosis of a serious illness that is specified in the policy. The term and sum to be insured are decided at the outset. If a critical illness is diagnosed during the specified term then the sum insured is paid out.
All the above policies can be set up on a single or joint life basis. If a claim has not been made before the end of the term then the plan ceases and nothing is paid out. There is no cash in value at any time. If a claim is made then the policy ceases. In the case of Joint Life policies, cover will cease following the first claim from either life.

Long Term Income Protection (PHI)

Long Term Income Protection Insurance also known as Permanent Health Insurance is designed to pay you a regular income if an illness or injury prevents you from working. The income can be paid for as long as you are unable to work through accident, sickness or until the end of the policy term. This product has no investment content and has no cash in value at any time.