Life Protection Options

Life protection—commonly known as life insurance—provides financial security for your loved ones if you pass away or are diagnosed with a terminal or critical illness during the policy term. It ensures that your family can maintain their lifestyle, cover debts, or manage essential expenses in your absence.

Most people take out life assurance to provide for their families and alleviate any financial worries at a difficult time. 

• Affordability

Decreasing Term Assurance works in a similar way to Level Term Assurance, but the benefit is set at the outset and gradually decreases over the term of the policy. These policies can be used as cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time. As the benefit reduces over time, the premiums are usually lower than for Level Term Assurance.  

Family Income Benefit is a Term Assurance policy which pays a regular monthly/annual tax-free income in the event of death, instead of a lump sum, to your dependants up until the end of the term of the policy.  

Critical Illness Insurance is usually available as an addition to all term assurance plans but can be bought on a standalone basis. Critical illness provides a lump sum benefit / income in the event of diagnosis of certain critical illnesses, such as heart attack, stroke, transplant, blindness, total and permanent disability. The illnesses covered will be specified in the policy along with any exclusions and limitations – these differ between insurers.