We appreciate you might be worried about the impact of coronavirus and want to let you know that supporting our customers and colleagues is our priority at this time. We are updating our website regularly and our contact centres remain open.
We have created some frequently asked questions to answer some of the questions our Life Insurance customers have around cover and claims relating to the coronavirus.
As the name suggests, Level Term cover provides a level amount of protection over the term of the policy. If you selected £100,000 of protection at the start of the policy for 25 years, you would be covered for this amount until the policy ended 25 years later.
Decreasing Term could provide you with the cover amount you need right now, then gradually decreases as the policy ages. If you select £100,000 of protection at the start of the policy for 25 years, gradually this will reduce down to £0 by the end of the policy 25 years later.
You can also choose to add Critical Illness Cover to your Life Insurance. If you choose to add Critical Illness to your policy the sum assured is a fixed amount which won’t decrease over time. We only cover the critical illnesses we define in our policy.
* Based on a 30 year old who has never smoked. £200,000 decreasing term cover is possible for under £6 per month for 20 years. Price correct as of February 2020.