Level Term Life Insurance

The name defines this policy. A Level Term Life Policy means that the insurance cover remains the same or remains level the whole term. You pay the same monthly or yearly premiums too. It is up to you to choose the lump sum you want paid to your family in case you die during the term that you have taken it for and you can rest easy that they will have enough to invest and live on till they can support themselves. This policy is also good if you need a fixed sum to pay off a mortgage within a certain period of time. This will cover that and not be a burden to the family you leave behind.

All this policy needs is for you to decide how much is enough and then we can help you work backwards to see how much you need to pay towards that to maintain that amount for a certain number of years. Many insurance companies include terminal illness cover with this policy and it is done at no extra cost. This is a simple, straightforward policy that would stand the family in good stead if you were to suddenly go. The premiums are as low as £5 a month.

Types of life insurance

  • Single life insurance

    Life insurance to cover the life of one person. But what else is there to know?

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  • Joint life insurance

    A joint life insurance policy to cover two people (cohabiting, in a relationship etc).

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  • Level term life insurance

    A life insurance policy that pays out the same throughout the policy term.

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  • Decreasing term life insurance

    This cover decreases throughout the life of the policy, usually in line with a mortgage.

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  • Critical illness cover

    You don't just have to get cover for your life - consider what would happen if you were to become seriously ill.

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  • Life insurance with critical illness cover

    A combined insurance policy that pays out upon death or if you become very ill.

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  • Mortgage protection cover

    Not to be confused with mortgage PPI, this life insurance would help to pay a mortgage off.

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  • Mortgage protection cover with critical illness cover

    Similar to mortgage protection life insurance but also pays out if you develop a critical illness.

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  • Family income benefit cover

    Instead of a lump sum this would pay a fixed monthly amount to your family if you pass away.

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  • Convertible term life insurance

    A flexible type of life insurance; you can switch it to a different life insurance variation later in the term.

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  • Guaranteed life insurance

    No medical required and this type of policy is available to anyone and everyone, regardless of circumstances.

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  • Reviewable life insurance

    Every few years this policy can be "reviewed" to see if the level of cover that you have chosen is still appropriate.

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Still need to learn more about Life Insurance?

You don't know how lucky you are. No, really. Why? Well, because we've put together the official ChooseMonkey Guide to Life Insurance just for you!

(Ok, so maybe a few other people are going to read it too. But remember, you're special)

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