Skip to main content
  • 0131 441 2288
  • admin@retsol-llp.co.uk
HOME
  • Home
  • About Us
  • How We Work
  • Our Team
  • Testimonials
  • Privacy Policy
  • Contact Us
HOME
  • Home
  • About Us
  • How We Work
  • Our Team
  • Testimonials
  • Privacy Policy
  • Contact Us
Select category
  • Financial Planning
  • Wealth Management
    • Introduction to Wealth Management
    • Relationship Management
    • Power of Attorney
    • Trust Information
    • Wills
  • Pensions
    • Introduction to Pensions
    • National Employment Savings Trust (NEST)
    • Occupational Pensions / Auto Enrolment
    • SSAS
    • SIPP
    • Executive Pension Plan
    • State Pension
    • Annuities
    • Stakeholder
    • Personal
  • Savings & Investments
    • Introduction to Savings & Investments
    • Unit Trusts
    • Collectives
    • Equities
    • With-profits
    • Fixed Interest Investments
    • Capital Investment Bonds
    • National Savings Products
    • ISAs
    • Junior ISAs
    • OEICs
    • Investment Trusts
    • Offshore Collectives
  • Life Assurance
    • Introduction to Life Assurance
    • Investment Linked
    • Whole of Life
    • Family Income Benefit
    • Convertible Term
    • Renewable Term
    • Increasing Term
    • Decreasing Term
    • Level Term
  • Business Insurance
    • Introduction to Business Insurance
    • Pensions & Capital
    • Keyperson
    • Employers' Liability
    • Professional Indemnity
    • Income Protection
    • Share Protection
    • Directors' & Staff Benefits
  • Health Insurance
    • Introduction to Health Insurance
    • Private Medical
    • Critical Illness
    • Income Protection
  • Taxation
    • Introduction to Taxation
    • Capital Gains Tax
    • Income Tax
    • Inheritance Tax
  • Market Data
  • Research Links
  • Financial Planning
  • Wealth Management
    • Introduction to Wealth Management
    • Relationship Management
    • Power of Attorney
    • Trust Information
    • Wills
  • Pensions
    • Introduction to Pensions
    • National Employment Savings Trust (NEST)
    • Occupational Pensions / Auto Enrolment
    • SSAS
    • SIPP
    • Executive Pension Plan
    • State Pension
    • Annuities
    • Stakeholder
    • Personal
  • Savings & Investments
    • Introduction to Savings & Investments
    • Unit Trusts
    • Collectives
    • Equities
    • With-profits
    • Fixed Interest Investments
    • Capital Investment Bonds
    • National Savings Products
    • ISAs
    • Junior ISAs
    • OEICs
    • Investment Trusts
    • Offshore Collectives
  • Life Assurance
    • Introduction to Life Assurance
    • Investment Linked
    • Whole of Life
    • Family Income Benefit
    • Convertible Term
    • Renewable Term
    • Increasing Term
    • Decreasing Term
    • Level Term
  • Business Insurance
    • Introduction to Business Insurance
    • Pensions & Capital
    • Keyperson
    • Employers' Liability
    • Professional Indemnity
    • Income Protection
    • Share Protection
    • Directors' & Staff Benefits
  • Health Insurance
    • Introduction to Health Insurance
    • Private Medical
    • Critical Illness
    • Income Protection
  • Taxation
    • Introduction to Taxation
    • Capital Gains Tax
    • Income Tax
    • Inheritance Tax
  • Market Data
  • Research Links
  • Home
  • >
  • Level Term

Level Term

Level Term Assurance

This type of cover protects you for a given term for a fixed benefit. The amount of life cover chosen at the outset will be paid whether a claim on death is made in the first year of the term or the last year. Quite often a payment would be made on the diagnosis of a terminal illness before the last 18 months of the plan, where you had 12 months or less to live. This type of protection may be suitable for family protection and Interest Only Mortgage debt, where the level of debt on the mortgage does not decrease as the years progress, however, this would depend on individual circumstances and you should seek further advice.

  • Provides a lump sum on death or terminal illness to help provide a financial buffer for your family or to pay off debts
  • The level of cover remains the same throughout the term of the policy
  • The policy pays out if you die during the term of the policy or if, before the last 18 months of the term, you are diagnosed with a terminal illness. (A terminal illness means you are not expected to live for more than 12 months)
  • Life insurance policies will only pay out once within the agreed time, so if the policy pays out because of a terminal illness claim, the policy and cover will end
  • Paying out on diagnosis of terminal illness may be proportionate to the level of cover under a death claim

Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.

THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

Level Term

Level Term Assurance

This type of cover protects you for a given term for a fixed benefit. The amount of life cover chosen at the outset will be paid whether a claim on death is made in the first year of the term or the last year. Quite often a payment would be made on the diagnosis of a terminal illness before the last 18 months of the plan, where you had 12 months or less to live. This type of protection may be suitable for family protection and Interest Only Mortgage debt, where the level of debt on the mortgage does not decrease as the years progress, however, this would depend on individual circumstances and you should seek further advice.

  • Provides a lump sum on death or terminal illness to help provide a financial buffer for your family or to pay off debts
  • The level of cover remains the same throughout the term of the policy
  • The policy pays out if you die during the term of the policy or if, before the last 18 months of the term, you are diagnosed with a terminal illness. (A terminal illness means you are not expected to live for more than 12 months)
  • Life insurance policies will only pay out once within the agreed time, so if the policy pays out because of a terminal illness claim, the policy and cover will end
  • Paying out on diagnosis of terminal illness may be proportionate to the level of cover under a death claim

Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.

THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

Read less

Company address: Retsol Financial Services LLP, 30 Spylaw Street, Edinburgh, Scotland, EH13 0JT T: 0131 441 2288 E: admin@retsol-llp.co.uk

Registered office address: 30 Spylaw Street, Colinton, Edinburgh, EH13 0JT.

Retsol Financial Services LLP is a limited liability partnership and an appointed representative of TenetConnect Ltd which is authorised and regulated by the Financial Conduct Authority. Retsol Financial Services LLP is registered in Scotland under reference SO301235.

TenetConnect Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 149826.

© Copyright 2021 Adviser Pro. All Rights Reserved

Design and Development by Adviser Pro