Term life insurance is a life insurance protection policy which provides a lump sum or monthly benefit paid to the beneficiary in the event of death during the term of the policy. A term life insurance policy is over a fixed period with normally a guaranteed or re viewable premium paid by the life assured on a monthly or annual basis. Term life insurance can be taken out to cover a mortgage or loan and is normally set up to benefit the remaining family in the event of the life assured death. Term Life Insurance can be taken out as a personal cover or paid for by your company which can be more tax efficient.
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