Term assurance

What is term assurance?

Term assurance is a particular form of life cover.

The idea of term assurance is to cover you for a particular period (or term). So long as you maintain your premiums during this term, your policy will pay out on your death. Term assurance can increase, decrease or remain level throughout the life of the policy.

Term assurance is a relatively cheap form of life cover. In addition, you may combine this type of insurance with critical illness cover.

Usually, the proceeds of a term assurance policy will be paid to your family tax-free. In addition, you can also place the policy in trust so that this is guaranteed.

Woodruff Financial Planning has access to all the major providers of term assurance, so we should be able to find you the best policy for your needs.

To find out more about term assurance, please contact us.