Level Term Life Insurance
Level term life insurance (also known as term life insurance) pays a fixed amount upon the death of the policyholder at any time during the policy term.
It costs more than mortgage protection life insurance because the potential liability to the insurer is higher, but because like mortgage protection life insurance there is no investment element it still represents a low cost way of providing life insurance cover.
Level term life insurance can be used for a number of purposes. It can be used as family protection until children reach independence or perhaps until the policyholder(s) reach retirement and will then have a regular income for life. You may also want to consider Family Income Benefit Life Insurance as an alternative to provide security for your family and dependents.
Level Term life insurance can also be used to cover a liability such as a loan
where the outstanding balance remains constant for the duration of the loan.
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