When you know the tax free cash lump sum you need to be insured for and the period of time that you need to have it in place then term life insurance is exactly what you need.
Term life Insurance is the simplest and oldest type of life insurance and is usually the lowest cost available.
It guarantees to pay a tax free lump sum to the spouse/partner or nominated beneficiary of the person insured. The sum insured will be paid if s/he was to die between the start and end date of the policy.
At the end of the term, the policy will not have any value or options and provided the reasons for having term life insurance in place are clear, that will normally be understood and acceptable.
Some examples of where it fits best are;
We take you through some simple steps to follow;