What is life insurance?
It's a way to give you some reassurance and your loved ones some extra financial security if you die. It can also provide some financial comfort at a difficult time if you're diagnosed with a terminal illness that meets our definition as per the Terms and Conditions.
It's not all that different from other types of insurance. If you insure a car or a house, you pay an agreed amount or 'premium' each month. The insurance company pays if it gets stolen, damaged or destroyed.
With life insurance, the insurer pays out if you die within the term of the policy. You won’t be around to receive the money yourself, but you'll be able to leave it to your family or loved ones.
It also includes a terminal illness benefit. So, if you're diagnosed with a terminal illness, that meets the definition, we'll pay the cash sum early, which could remove financial worries at a difficult time.