This offers homeowners’ security in the event of death. It is the least costly form or life cover you could expect and cover is for a specified term of years for a specific amount.

Not only will you be paid out in the event of death of the life/lives assured,

But, also

On the diagnosis of a terminal illness

There are various ways a policy may be underwritten, depending on the amount of flexibility is required. However, the 2 most usual forms of Term Assurance are:

Decreasing Term
	This is ideal for the Capital and Interest ( repayment ) mortgage as cover will decrease in line with the mortgage.
	Cover includes death and diagnosis of a terminal illness
	As the sum assured decreases this type of insurance usually works out cheaper than the Level Term

Level Term
	This type of cover is constant throughout the term of the policy.
	The sum assured will be paid out in full in the event of death or diagnosis of a terminal illness.
	It is ideal whereby the original amount of the loan needs to be covered in full, especially where the mortgage does not decrease because it is an interest only loan.

Death or Earlier Critical Illness

This cover provides extra security in the event of an illness or disability, as well as death, whereby the person(s) who is paying the mortgage can no longer work due to health reasons and would be not in a position to maintain the mortgage payment if a long term illness were to occur.

For a range of the illnesses covered see below:
	Alzheimer’s disease		Keyhole heart surgery
	Angioplasty (2 or more arteries )		Kidney failure
	Aorta graft surgery		Loss of independent existence
	Aplastic anaemia		Loss of limbs
	Bacterial meningitis		Loss of speech
	Benign brain tumour		Major organ transplant
	Blindness		Motor Neurone disease
	Cancer coma coronary artery by-pass surgery		Multiple Sclerosis
			Paralysis/Paraplegia
	Creutzfeldt-jakob disease		Parkinson’s disease
	Deafness		Stroke
	Dementia		Third degree burns
	Heart attack		Total permanent disability to age 65 - Own occupation or Work tasks definition
	Heart valve replacement or repair
	HIV or AIDS from assault
	HIV or AIDS from blood transfusion
	HIV or AIDS from occupational duties or accident

To qualify for a claim you must survive for 14 days after you are diagnosed with a critical illness

For a quick quote, call 023 8066 8778 or use our quick quote form