LifeNow

Understanding Level Term Policies ...

A level term life insurance policy is one where the amount of cover remains the same for the duration of the policy term - as opposed to a decreasing term policy, where the amount of cover reduces over the term of the policy. Level terms policies are usually set up to provide a lump sum in the event of your death - normally this sum is aimed at providing finance for a surviving family or dependents. Another alternative to the lump sum payout is a Family Income Benefit Assurance, where the policy will provide a tax-free annual income until the end of the policy term.