Term Insurance
For your information we have outlined
below the main features of
The most common form of life insurance - most usually
called ‘Term Assurance’.
What is Term Assurance?
This type of policy is the most common form
of life insurance. It Simply pays out a pre-defined
(level) amount if you die during the Term of the Plan
or are diagnosed with a terminal illness. The term
of The plan is usually taken to match the term of the
mortgage although This does not have to be the case.
Indeed you do not need to have a Mortgage at all to
take this form of life insurance but it is usually
Taken out to cover mortgage debt.
In order to reduce the monthly cost of the policy (the
premium) you May also choose mortgage (decreasing)
term assurance. This is the same as a ‘level’ term
assurance but is designed to run With a ‘repayment’ type
of mortgage where the amount of life cover Decreases
in line with your mortgage balance.
Quotes for both level or decreasing benefit, with guaranteed
or Re viewable rates are available instantly by clicking
the link above.
What is critical illness cover?
Critical illness cover is a very popular addition
to a life insurance Plan. By adding this to your policy
it will pay out immediately if you Are diagnosed with
one of a specified list of critical illnesses – even
If you make a full recovery. Critical illness is usually
added to a life Insurance policy so that it will pay
out on the first event, death or Diagnoses of a critical
illness. However it can be taken as a stand alone plan.
Independent Mortgage Services and IMS are trading styles of Neale Morton (IMS) Limited which is authorised and regulated by the Financial Services Authority.
IMS firm reference number is 307533. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234
