Level Term Life Insurance

This type of life insurance guarantees the same payout over the term of the policy.

Level Term Life Insurance pays a lump sum, as specified when the policy is taken out at any point during the term of the Level Term policy.  This type of life insurance can be taken out to cover one person or 2 and, crucially, it can be placed into Trust which allows for the payout to be paid to the nominated beneficiaries faster than if it were paid the the deceased estate.

 

Level term life insurance can be taken out to ensure that the mortgage (interest only mortgage and capital and repayment mortgage) is repaid in the event of death.  With a capital and repayment mortgage the balance of the mortgage will reduce over the term of the mortgage and so any surplus Life insurance not need to repay the mortgage will be given to the nominated beneficiaries of the Trust or deceased estate.

 

You should also consider reviewing your existing life insurance policies to ensure you and your family have adequate protection.  It may be that you have changed the term of your mortgage or increased the amount you have borrowed and you could find that your existing policy is no longer fit for purpose.

 

Our Protection specialist will be happy to discuss your Life insurance requirement and provide a no obligation quote.

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