The 2 main types of Life cover are:
Level Term Assurance (LTA)
Decreasing Term Assurance (DTA)

Level Term Assurance (LTA)
This is simply a life assurance plan used to protect your mortgage or your family from financial difficulties in the event of your death. It provides you with a fixed amount of cover over the term of the policy. The sum assured stays the same throughout the term of the policy.

Decreasing Term Assurance (DTA)
This type of cover is also known as Mortgage Protection (MP) and is a life assurance plan which is used to provide protection for repayment mortgages, where the level of cover is equal to the mortgage amount.

As the name suggests, the amount of cover decreases during the term/mortgage period and ultimately to finish at zero at the end of the term. This helps to make sure you are not paying for too much cover and keeping your premiums to a minimum.

These policies are where cover is provided for a fixed term and the sum assured will only be payable on death, with no investment benefits nor payment on survival. For more information to help you further understand Life (Term) Assurance, please click here.

Our team of knowledgeable advisors will help you find the right policy which suits your needs and circumstances. Alternatively you can obtain a FREE no obligation quote online, all from the comfort of your own home or office.