- What is Level Term Life Insurance?
- February 1, 2011 | 0 Responses
Term life insurance or as it is sometimes called Term life assurance is a type of life insurance that provides cover at fixed rate payments for a chosen period of time and designed to pay out in the event of the policy holders death. The beneficiary/beneficiaries is/are paid a fixed cash amount, but only if the policy holder dies during the term of the insurance policy. Policies can be set up as a single life plan or a joint life first death policy and critical illness can also be added to these policies to cover in the event of a diagnosis of a critical or terminal illness specified in the policy.