Level term life insurance is a basic affordable type of life insurance. Normally the cheapest form of life cover. The premium is normally fixed per month or year over the life of the policy. The amount of life cover (also known as the sum assured) is guaranteed for a fixed term. The fixed lump sum amount is paid out if an insured individual dies within the policy period.
Level term insurance can used to protect an interest mortgage ,family protection , to off set inheritance tax,and for business protection.
Policies can be for joint or single lives.
1) You choose the amount of cover you want and how long you would like the policy to run for.
2) If you die during the policy term your insurer will pay the amount you are covered for.
3) If you set up a joint policy (one policy to cover two people) the amount of cover is paid out on the first death.
4) The policy stops when a claim has been paid. These policies have no cash in value at any time.
Decreasing Term Assurance is a cost effective way of protecting a mortgage debt on a capital and interest basis. The initial sum assured reduces in line with capital reduction of the mortgage balance over the mortgage term.
Find the best value insurance deals with GT Mortgage - the impartial adviser you can bank on.
AT GT Mortgages, we understand how important it is for you to protect yourself, your family and your home. With our experience and expertise, we can tailor a package for you to suit your needs and ultimately your budget. We can advise you which cover is suitable and explain the benefits and extra options available so you can be sure you arrange the right type of policy.
Why don't you give us a call you give us a call today on 01324 622226 for a consultation. Our advisors will help you choose the right deal for you.
GT Mortgages is not tied to one or a panel of Life Assurance Companies and can offer advice from over 20 different companies to find the policy and premium that is right for you