Cheap Life Insurance 2

The most popular variation is level term life assurance. It is called level term because the assured lump sum benefit remains the same throughout the insured term. Decreasing term, on the other hand and as its name suggests, offers a decreasing death benefit during the coursework of the term. With a steadily decreasing sum at risk, the life assurance company can charge an even lower premium, making this the ideal choice for somebody who wishes to ensure that a standard repayment mortgage (on which the balance is also


steadily decreasing) is fully paid off in the event of their death. For those who need to build in some degree of increasing benefit, there is either increasing term life assurance (with the lump sum benefit increasing by predetermined annual increments) or index-linked term life assurance (where the benefit payable increases in line with inflation).
Standard term life assurance, however, remains remarkably cheap. Indeed, it is one of the few products in any market which has actually come down in price over the past decade. The level of benefits payable under a term life assurance policyowner are directly proportional to the level of premiums paid, so it is much a query of choice as to how much protection is bought. It also comes in a quantity of different types, to suit a variety of personal circumstances.