Life Cover is a plan that pays out a sum on death. Both the length of the term and the lump sum can be selected to fit a client’s needs.
There are two main types of Life Cover plan, one stays at a fixed amount through the plan “Level Term Assurance”. The other has a lump sum which decreases typically to match a repayment mortgage reducing as it is repaid, “Decreasing Term Assurance”.
Both of these types of policy can have critical illness cover added to them if required to give a more complete level of protection for a family.
Picking the right term, blending Level Term and Decreasing Term can be confusing. Futures Protected are on hand to help you understand how much cover you need.