This is a whole of life insurance plan that pays out a guaranteed cash sum when you die.
It’s easy to make an application.
There are a few things you need to know first:
- The plan has no cash-in value at any time.
- Depending on how long the plan runs, the amount paid out on your death may be less than the total amount you have paid in premiums.
- The cash sum is fixed, so inflation will reduce what it can buy in the future.
- If you stop paying the premiums before the end of the premium term, the plan and cover will end. You won’t get anything back.
- If you die within the first year from any cause other than a fatal accident, we will not pay the full life insurance amount. Instead, we will pay an amount equal to the premiums you’ve paid.