Life Cover for individuals
You can protect yourself with single cover, or you can protect yourself and your partner with dual cover. You can choose how long you want the cover to last and also cover can be renewed at the end of your chosen term.
What are the options available?
1. Convertible Level Term & Standalone Serious Illness
This is top of range and you are covered both on a level term basis against death but also on a level term basis for serious illness cover. Effectively, if you suffer a serious illness during the term of the loan, the full original sum borrowed is payable. In this case, you do not have to die to receive the benefit. This is the most comprehensive of the types and the most reassuring.
2. Mortgage Protection & Accelerated Serious Illness
You’re mortgage balance is covered as it decreases and you are covered against serious illness too.
3. Convertible Level Term Life Only
The original sum borrowed is covered for the entire term irrespective of what the balance is when the life assured dies. This is more comprehensive than decreasing cover. You don’t have any protection against serious illness.
4. Decreasing Life Cover (mortgage protection)As the name implies, your mortgage balance is covered and as it decreases through capital being repaid, so does the life cover. This is the cheapest of the types of life cover available and no protection against serious illness.