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TERM ASSURANCE

A Term Assurance Policy pays out the sum assured on the death of the life assured. For example, if Sam had a policy for £100,000 over 20 years and died 15 years later, it would pay out £100,000. In fact it would pay £100,000 right up to the day before the policy expired.

Nowadays, most Companies will pay the sum assured if, during the plan term, you are diagnosed as suffering from a terminal illness. A Term Assurance Policy can include Critical Illness Cover if required.

	What might I get back at the end of the policy? This type of policy has no savings or investment element therefore no money is payable at the end of the policy term and there is never a surrender value.
	What happens if I stop paying the premiums? Your policy and insurance benefits will stop completely.
	What happens if I die? If you die before the end of the policy term the sum insured is payable.
	What about my tax situation? Death benefits are free of income and capital gains tax. The current tax situation could alter in the future. The death benefit may be subject to inheritance tax unless you put your policy in a TRUST.

COVER CHOICES/OPTIONS FOR THIS POLICY
JOINT OR SINGLE LIFE	REVIEWABLE PREMIUMS
CAN BE WRITTEN IN TRUST	GUARANTEED PREMIUMS
INCREASING COVER	TERMINAL ILLNESS COVER
INCREASING PREMIUMS	INTEGRATED CRITICAL ILLNESS COVER
PREMIUM PROTECTION	INDEPENDENT CRITICAL ILLNESS COVER
BUY BACK OPTION	POLICY TERM INCREASES AND/OR DECREASES
...	GUARANTEED INSURABILITY OPTION
FOR A FULL EXPLANATION OF THESE TERMS, CLICK HERE

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