Term Life (Death)

The greatest impact of poor health is on the people closest to us. Our advice is to be financially prepared for unforeseen problems.

Term Life cover pays a lump sum on the death of the person insured or when a terminal illness is diagnosed. It is one of the easiest products to understand and it is usually the first one people consider.

Term Life cover may:

• allow your family to repay debts, including a mortgage, personal loans, guarantees, credit cards or store cards
   
• provide an adequate income for your dependants to pay living expenses, school fees, childcare and regular bills
   
• protect your business if a key person or principal dies
   
• provide a cash deposit to your estate, which may prevent other assets being sold
   
• This kind of insurance policy is inexpensive. If you are self-employed the premiums can be tax deductible and set up inside or outside a superannuation plan.