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What is term assurance? In effect this is a mortgage protection policy. They are an inexpensive way of providing protection and should be the minimum type of cover taken to safeguard your next of kin should anything happen to you. Term assurance life cover is linked directly to a repayment mortgage and the amount of life cover reduces with the mortgage balance over the loan period. This ensures that, in the event of death, the outstanding balance owed is repaid, assuming, of course, the premium payments have been kept up to date.
There is no surplus, they have no surrender value and should the policy holder survive to the end of the term, the cover ceases and there is no value in the policy.
Compare leading UK Term Assurance providers from our list of providers below. remember that quotes will vary between companies so we suggest you get two or three quotes minimum before you sign up.
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