Life Insurance
If you die or become terminally ill
Life insurance protects the people who depend on you. If you die, your life insurance pays out a lump sum or a fixed monthly amount to the beneficiaries of your insurance.
Your life insurance pay-out can provide financial security for your loved ones, allowing them time to grieve without worrying about paying the bills. It can also be used to pay off debts like your home loan, or to cover funeral expenses.
Some life insurance policies also have a benefit built in that pays out if you are diagnosed with a terminal illness and have less than 12 months to live.
Key Facts
If your claim is accepted, it will be paid out in either a lump sum or in monthly payments. If you select a Yearly Renewable Term, the premiums for your life insurance renew each year in line with factors such as your age. If you select a Level Term, your premiums will not increase due to your age.
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Disclaimer: Please note the content provided on this page is intended as an overview and is for general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect new developments in the industry or address your situation. Before making any decisions based on the information provided on this page, please use your discretion, and speak to one of our advisers.