Cheap term assurance
What is cheap term assurance?
Cheap term assurance is a form of life insurance designed to offer you protection over a certain term at an affordable price. Cheap term assurance offers a customer life insurance over a certain term, which is usually the length of their mortgage, but can be for any period of time. Customers will pay a monthly premium for the cover for the duration of the term, and should the customer die at any point during the term, a lump sum payout will be made to their family.
Why would I need cheap term assurance?
If you have any financial responsibilities, then the chances are you could benefit from cheap term assurance. There are many different types of financial responsibility, and the two biggest, and most common are a mortgage, and having children. Both financial responsibilities start out at their biggest point, and then get smaller as time goes on. Over time a customer will pay off their mortgage, so the responsibility shrinks, and as children get older, they get closer to moving out and becoming financially self sufficient.
Cheap term assurance can provide a customer with protection of those financial responsibilities over the term when they are at their greatest. If the worst were to happen, then the customer would die safe in the knowledge that they were leaving behind money to look after those responsibilities, either through paying off the remainder of the mortgage, or providing the money needed to look after the children until they can look after themselves.
Cheap term assurance is one of the cheapest forms of the life insurance available, but is also the most popular, and more people have a cheap term assurance policy, than a whole life assurance policy, which covers customers for their whole life, but is significantly more expensive.
Where can I buy cheap term assurance?
You can buy cheap term assurance online at life insurance quotes, and you can compare life insurance from the biggest providers. You can also read up on a range of articles about life insurance, as well as learning about the way life insurance companies price their products and why your life insurance may cost more than your friends and families.