Life Insurance
A type of insurance that pays a benefit upon the death of an insured person.

Critical Illness
This option pays out a lump sum in the event that you are diagnosed with a specified illness or condition which will be defined when you take out the policy

Fixed/guaranteed premiums
your premium is fixed at outset and will remain level until the expiry of the policy. Any increases in cover that are effected during the term of your plan will be based on your age at that time but this will only apply to the increase.

Reviewable premiums
Plans with reviewable premiums are usually cheaper initially, however, the premiums are reviewed regularly and can increase substantially.

Level Term
A policy which pays out a fixed lump sum upon your death during the term of the policy. The premiums are fixed as is the lump sum paid out when you die.

Decreasing Term
Payments are smaller and the amount you receive is intended to pay off your outstanding mortgage. The sum assured decreases each year.