Term assurance – designed to help make sure your family are financially protected if you die during the length of your policy. A cash sum could be paid out and used by your loved ones to help with everyday living expenses, child-costs or help to pay the mortgage.
Decreasing term assurance – designed to help protect a repayment mortgage as the amount of cover – reduces approximately in line with the way a repayment mortgage decreases.
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Life Assurance FAQs