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Level term assurance |
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Level term assuranceLife assurance that pays out a set amount throughout the entire agreement if you die during the term.Level term assurance Similar MatchesRenewable term assuranceRenewable term assuranceTerm life insurance with a term of, for example, three years, at the end of which the policy can be renewed for a further three years and similarly thereafter for an overall specified length of time. Unit linked life assuranceUnit linked life assuranceSee : 'unit linked policy'. AssuranceAssuranceIn the UK the term 'assurance' tends to be used where insurance is taken out against something which will inevitably occur, an example being death and thus life assurance. The term 'insurance' is used when insuring against an event which may occur such as damage to a motor vehicle. Decreasing term assuranceDecreasing term assuranceA life insurance policy that pays out a lump sum in the event of death. The amount paid out can be calculated so that it fall in line with your outstanding mortgage debt – meaning that over time the borrowers premiums also fall. This type of policy is well suited to providing cover on a repayment mortgage. Family income benefit (family income assurance)Family income benefit (family income assurance)A type of term assurance in which, following the death of the life assured, instalments, rather than a lump sum, are paid to the beneficiary for the remainder of the policy term. If the life assured lives to the end of the term, no benefit is payable. Further Suggestionsunit linked endowment assurancejoint life assurance life assurance premium relief decreasing term assurance industrial life assurance contingent assurance life assurance unit linked whole of life assurance index linked term assurance bancassurance endowment assurance Life assurance term assurance index linked family income assurance |
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