There are two distinct types of life assurance policy, Term Assurance which pays out on death within a specified term, and Whole Life Ansurance which pays out whenever the policyholder dies.
There are also various types of Term Assurance policies such as those which simply pay a lump sum on the policyholders death, policies that can be converted to other types of policy at some later stage, policies whose sum assured is reduced in line with your repayment mortgage, and policies which pay an income rather than a lump sum on death.
Various additional benefits can be added to Life Assurance policies, such as Critical Illness cover which pays a lump sum on the diagnosis of a specific illness or in the event of having to undergo major surgery, and Permanent And Total Disability which will pay a lump sum if you were permanently and totally disabled due to illness or injury.
The cost of such cover depends on the number of factors including your age, gender, general state of health and whether or not your smoke.
For more information and assistance, please contact us