Level Term Life Insurance is a cost effective way of arranging life assurance in the UK and is a relatively straightforward form of life cover.
Level Term Life Insurance is often used for family protection purposes by providing life insurance cover in the event of the death of the life or lives assured for the benefit of the surviving spouse and, if there are any, the dependant children to make their lives more comfortable financially.
The amount of life cover provided is often agreed upon after receiving advice from a financial adviser who will assess a family’s requirements taking into account a number of factors such as the level of income required and the term the life cover is required for i.e. whilst the children are dependant on their parents.
The amount of Level Term Life Insurance remains level for a specific period of time i.e 25 years and is arranged normally on a sole life or joint life first death basis with the premium often remaining constant throughout the term.
If the life or lives assured outlive the term of the policy then the Level Term Life Insurance policy normally finishes and the life policy does not pay out anything....
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