Term Life Insurance
Modern Life Insurance with:
200% Multi-Claim Critical Illness Cover
200% Dual Life Cover
Doctor-on-Demand with 24/7 GP Services
Life Empowered Membership Benefits
What is Term Life Insurance?
Term life insurance is a financial contract whereby policyholders make regular premium payments to an insurance company in exchange for a defined benefit upon death. Dividend Term Life also covers policyholders should they be diagnosed with a terminal illness that meets the definition in the Policy Terms and Conditions.
Benefit payments are tax free and can be used for any purpose.
Traditionally, Term Life has been designed to provide financial protection towards:
Ensuring a standard of living for your dependents, such as continued living costs, school costs and university costs.
Paying off outstanding mortgages or loans.
Covering funeral costs.
There are two types of Term Life:
Level Term Assurance (LTA)
Level term life insurance is where the premiums and amount of cover stay the same during a policy term, regardless of when the insured person passes away. Simplistically, the amount of cover is ‘level’ and constant.
Decreasing Term Assurance (DTA)
Also known as mortgage life insurance, means your cash sum assured decreases in a similar fashion to the way a repayment of a mortgage decreases the outstanding mortgage amount. Like Level Term, the premiums are fixed but tend to be lower due to the fact the amount of cover reduces over time.
Assura Dividend Term Life
Cover & Eligibility
For both Level Term and Decreasing Term policies the maximum amount of protection that can be purchased is up to a value of £1,000,000, and your specific amount of cover may vary based on your age, health, and our underwriting criteria.
The maximum term for a Dividend Life Policy is 40 years.
The minimum age you can take out a policy is 18 years old.
The maximum age a policy can be taken out is the day before your 70th birthday.
The latest your policy term can end is the day before your 90th birthday.
Included with your Assura Policy
Annabel Benefits & Rewards.
Guaranteed Insurability Option.
Additional Policy Options
Dual Life Cover.
Premiums & Policy Costs
Fixed premiums for entire policy term, unless you choose to change your cover.
Full Annabel Benefits & Rewards included on policies at no additional cost.
Term Life policies have no cash or surrender value and there is no benefit payment if you live beyond the end of the policy term.