Term Assurance - Information
We specialise in offering comprehensive and competitive protection products. Our Term Assurance is a plan that aims to pay out a lump sum if the Life Assured dies or is diagnosed with a terminal illness and is eligible to claim during the term of the plan.
Term Assurance automatically includes:
- Terminal Illness Cover - the sum assured will be paid out if the Life Assured is diagnosed as suffering from a terminal illness and is eligible to claim (where life expectancy is less than 12 months). This does not apply to the last 18 months of the term of the plan and is only available on plans where the term is 2 years or more.
The following options and benefits are available, however, they must be chosen at the start of the plan and there may be an additional cost.
Benefits automatically included
- Guaranteed Insurability Option
- Accidental Death Benefit
- Free Life cover – mortgage protection only
Options
- Critical Illness Cover (this automatically includes Children’s Critical Illness Cover)
- Indexation – helping you keep pace with inflation
- Conversion
- Immediate cover – mortgage protection only
- Waiver of premium
- Single or joint life cover
If the plan is taken out for mortgage protection then SmoothMove, provided by Inter Partner Assistance (a 24 hour moving day rescue service) will also be included. This also provides cover for up to three months after the moving date for domestic emergency repair and legal advice.
The above benefits and options are subject to terms and conditions which can be found in the policy document or the Protection Plans or Mortgage Related Plans technical guides, both of which are available upon request.
