Life assurance that pays out a regular income rather than a lump sum, if you die within the term. The income is paid until the term expires. back
A type of reducing term assurance under which proceeds in event of a claim are paid as income instalments for remainder of term. Total payments equal the reduced sum assured at time of claim.
A variety of reducing term assurance which, upon claim during the term, pays out instalments of capital for the remainder of the term. The total sum paid out is not the initial sum assured, but the balance remaining at the time of claim.
If the policy holder dies during the term of the life insurance policy the family of the policyholder will receive a payment of a regular income until the life insurance policy expires.
A term assurance policy which pays regular income to the beneficiary to the end of the policy term, instead of paying out a single lump sum. May be suitable for people who feel unable or don't want to handle the financial responsibilities that come with receiving and having to come up with a long term plan for a single large lump sum of money.
Is an insurance policy which is designed to pay out a tax free amount typically monthly or quarterly throughout the term of the policy in the event of death and/or critical illness (depending on the policy). It is designed to replace the income of the individual that has deceased or suffered a critical illness.
With a family income benefit, instead of being paid in one lump sum, your beneficiaries will be paid with a tax free annual income until the end of the term specified in the policy.
This is a type of plan designed to provide a regular income in the event of death. If you earn £20,000 p.a. you might for example want to take out a plan which would pay out £20,000 each year until, your children would no longer be dependent. Such a plan for say 10 years, would be cheaper than a plan which would pay £200,000. This is because the amount of cover is actually reducing, which is its advantage over it level term assurance.
A form of decreasing term assurance where the sum assured is paid in regular instalments. The death benefit is the value of the instalments due between the date of death and the end of the policy term.
Term assurance which pays money to the life assured's dependants for a set period, rather than paying a lump sum.
Type of term insurance policy. Your dependants would receive a regular income until the end of the policy term, if you were to die during the term.
a term assurance policy that pays regular benefits on death to the end of the plan term.