Q:
What is term life assurance?
A: Term life assurance is straightforward cheap life insurance
that provides you with a lump sum payout in the event of your death
or terminal illness. They are similar to all general insurance policies
(eg car insurance, buildings insurance etc) that only pay out should
the event occur. There are other types of policy that provide a payout
at the end of the 'term' should the policy not be claimed on - but these
can be very much more expensive.
Q:
Do I receive money back from my policy?
A: No, term assurance policies do not acquire a surrender value
at any time and have no monetary value on expiry.
Q:
Is the premium quoted to me on my term assurance illustration guranteed?
A: No, although in the majority of cases the premium does not
change, quotations for life assurance are based upon people being accepted
at 'ordinary rates'.
Q:
Should I stop my existing plan immediately?
A: No, whilst you are researching and applying for lower cost
life insurance you should continue to pay to your existing policy. Once
your new plan had been accepted and you have received the new policy
document you may cancel the old one.
Q:
What is the difference between level term and decreasing term?
A: Level Term - The amount of benefit paid out in the event of
a claim is the same amount as selected at the start of the policy
Decreasing Term - The amount of benefit paid out in the event
of a claim reduces on a year by year basis.
Q:
Can I cancel my cover at any time?
A: Yes - by providing notice in writing
Q:
How can I pay for cover?
A: All payments must be made by a monthly direct debit.
Q:
How do I obtain a no-obligation illustration?
A: Simply complete the form below...
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