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Term Life Insurance runs for a set period of time. That could be, until your kids have left home or the mortgage has been paid off, the choice is yours.
If flexibility is what you are looking for then Term Life Insurance might be the one for you.
Our trained advisors will ask how long you want the policy to run for, how much you want it to pay out the price will be dependent on your age, health and occupation amongst other factors.
One of the benefits to this type of policy is that the insurer will only pay out if you pass away during the fixed term, so there's less risk for them which in turn makes the premiums cheaper than other policies such as Whole of Life Insurance and Level Term Life Insurance.
For help deciding on how much cover you need and for how long, speak to one of our Advisers today.
Get a great deal on Life Insurance with a quote from Quick Quote Life.
Term Life Insurance is by far the most straightforward type of policy, but there are still some big decisions to make.
There are two main types of Term Life Insurance, Level Term and Decreasing Term.
Level Term means your policy will pay out the same amount if you die at any time throughout the insured period. You agree the amount of cover and how long you want it run for.
Decreasing Term is a cheaper option; this is where you might decide you need less cover as time goes on. With a Decreasing Term Policy, the payout reduces by an agreed amount each year.
Typically Mortgages have this type of policy set up to run alongside this is because over time your mortgage normally reduces as you continue to pay it and you may have also reduced other debts as time goes on.
If that is the case decreasing term insurance might be right for you. This is seen as a smaller risk for most insurers. Because of that, your premiums could be a cheaper.
This type of Policy is a short-term policy that normally gives you the option to renew the policy at the end of the agreed period, most Renewable Term Life Insurance Policies run for yearly periods, Premiums typically increase with your age as the risk of paying out increases.
At Quick Quote Life we understand that insurance can be a bit confusing.
If you want to get an estimate of how much you might have to pay for your Life Insurance contact us now for a free no obligation Life Insurance Quotation