Life Assurance
The simplest and cheapest form of life assurance is term assurance. It is given this name because you choose the length of time you are covered for (the term). A term assurance policy will protect your family, should the worst happen, by ensuring they are left with sufficient capital to maintain their lifestyle & repay a mortgage or any other debts.
How much will it cost?
The cost of a life assurance policy depends on a number of factors, including:
- The term of the policy
- Level of cover
you require
- Your lifestyle
Having life assurance needn’t be expensive though – in fact, premiums start from just a few pounds a month.
How much cover will I need?
The level of cover you have is up to you. Generally, people want to ensure that their debts and mortgage are cleared, and then work out what they would like to leave their family. As a rule of thumb, some people use the measure of 4 years salary.
Why not get a life assurance quote and see how much your ideal sum insured would cost?