What is Term Assurance?

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Term assurance is a plan that pays out a guaranteed cash lump sum if you:

  • Die during the plan
  • Are diagnosed as having a terminal illness
  • Diagnosed as having a Critical illness covered by the plan (if applicable).

You can take out the plan on your own or with someone else. The cash sum is payable upon the first claim only.

The plan can cover you, the other person or both. You must be aged over eighteen and the plan must be finished before the insured becomes 70.

If you choose to take critical illness benefit your children will also be covered by the benefit also in some cases.