Insurance
What is life insurance?
Life insurance pays out a cash lump sum if you die within the term of the policy. Cover is usually on a level or decreasing basis. With level term the amount of cover remains the same throughout the policy.With decreasing term, the amount of cover reduces over the term of the policy.
Things to think about
Terminal illness: Our cover includes Terminal Illness Benefit. The plan will pay out if you are diagnosed with a terminal illness within the plan term and are not expected to live for more than 12 months. If we pay out after a terminal illness claim, your plan will then end. This is different to our Critical Illness cover, which you can read more about.
Its important to know that there is no cash-in value. If you stop paying premiums or live to the end of your plan, your cover will end. In this case, you’ll get nothing back.