Why might you need Level Cover?
If you want a policy that pays out a fixed amount if you die, choose Level Cover. As long as you have your policy in place it will pay a fixed sum that could help your loved ones pay off an interest-only mortgage, clear other debts and maintain their lifestyle.
How does Level Cover work?
- You pay a fixed premium each month.
- If you die during the life of your policy your loved ones could receive a cash sum pay-out.
- The sum paid out will be the same whether a claim's made now or in the future.
The amount you pay tends to be more than for Decreasing Cover because the pay-out doesn’t reduce. Make sure you consider the effect of inflation when making your calculations.