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Term Life Insurance

Term life insurance is the original system of life insurance and is often the most inexpensive method of cover.

If you are the bread winner in your household and are worried about what your family would do without your income, term life insurance may be the best course of action for you. Term life insurance can look after any financial concerns, from mortgage payments to funeral costs.

The biggest feature that separates term insurance from the other types of life cover is that it covers you for a set period of time. After the term is up, you can either cancel the cover or move to another policy.


  • Price – Term life insurance generally has cheaper monthly payments, making it the most accessible method of insurance for most people
  • Time Frames – Unlike other forms of life cover, term life insurance policies only cover you for a certain period of time. This can really help those who are worried about their dependants at a particular time in their life. Twenty years is the most common term length, as this is generally for how long most children will be dependent on their parents
  • Changing your Policy – There are many things that can change as you get older – your dependants will, for example, become less dependent on you. Once your term policy is over, you can then switch to another type of policy with even lower premiums; one that will better suit your changing situation
  • Payments – If the worst were to occur, the pay-out from a term life insurance policy will go straight to your beneficiaries. This means your family will receive a lump sum to do with as they see fit. Other policies, in comparison, would send the insurance pay-out directly to companies such as your mortgage provider