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The main type of life insurance is term life insurance, which provides a cash lump sum in the event of your death. It is probably the most economical form of life insurance and you can stop the policy at any time. Term insurance usually requires you to undergo a medical examination and sometimes an AIDS test and it is renewed each year with your insurer. Calculating the amount of cover you need depends on you and your insurer. The policy you select determines the premiums you pay. Term life insurance is not tax deductible, although the payout is free of tax. Premiums generally increase each year as you get older. Most policies will pay out on death from illness. One exception is suicide, with policies containing an exclusion if you die by this method. If your death is accidental, the payout is generally immediate. |
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| Risk Advice | Not sure about the right level of term life cover? Life insurance advice with commission rebates. more info
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| Zurich Ezicover | Term life insurance made easy. Get a quote and apply for cover online and in a matter of minutes. more info
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