What is Term Assurance
Term Assurance will pay out a lump sum if you die during the term of the plan or develop one of a number of Specified illnesses. The cover and premium remain fixed for the term of the policy unless indexation is chosen.
No payment is made if you survive to the end of the policy term, however you can choose to include the continuation/conversion option. This allows you to take out a new policy without further medical evidence and the premium is the subject only to your then age and smoking status.
Helps them cope financially when you are not able to help them
Can cover more than one person on the same life cover policy
Increased cover at times when you need it