What kind of cover should I choose? Term Assurance, or Life Cover, provides cover for a specified period of time. Serious Illness Cover pays a cash lump sum in case you suffer from a specific serious illness. The Accelerated option takes funds from your total Term Life Cover to pay out the Serious Illness payment, reducing any final payment that may be due upon your passing. Income Protection pays out a set amount weekly, based on your current income, should you be unable to work for an extended period of time.
How much cover do I need? Consider your current income and expenses. How much would your dependents need annually to maintain their standard of living if you were no longer able to provide? You can use our Life Cover Calculator to estimate how much cover you might need.
How long should I set the term for? As a general guideline, 25 years, less the age of your youngest dependent OR 25 years altogether. However, you should speak to a qualified financial advisor to determine what length of term is best for you specific circumstances.
Indexation or no? If you choose an Indexed policy, your policy benefits and premium will increase each year to adjust for inflation.