Level Term Cover

Level Term Assurance policies provide for a fixed lump sum benefit on the death of the policyholder over a pre-defined period of years.

The insurance is paid for by way of a monthly premium that can be fixed for the term of the policy. 

For a slightly higher amount, the policyholder can elect for a Conversion option which will give them the option to extend the period of cover without having to undergo a medical. These policies can be set-up on a ‘Dual-Life’ basis by a couple, whereby each spouse is covered separately.

A Level Term Cover can be assigned as security for a Mortgage. Because the Sum Assured stays the same throughout the term, in the event of death (claim), then the mortgage will be paid off and the surplus will to into the Estate.