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Home : Insurance : Life Insurance : Level Term Life Insurance :

Level Term Life Insurance

Financial support for your loved ones

Our Level Term Life Insurance policy provides a fixed amount of cover for a fixed term of years. If you die during the term of the policy, the amount you are covered for will be paid to your loved ones as a lump sum.

Your monthly premium is guaranteed for the policy term, provided premiums are paid when due.

Level term life insurance key features

• You choose the amount of cover you want and the number of years the policy term will run for.
• If you die during the policy term your insurer will pay the amount you are covered for.
• If you set up a joint policy (one policy to cover two people) the amount of cover is paid out if either person dies.
• The policy usually stops when a claim has been paid.
• The policy has no cash in value at any time.

Terminal illness cover

This policy benefit is included with all AA Life Insurance policies at no extra cost. Terminal ilness cover pays out the amount you are covered for if you are diagnosed as being terminally ill with a life expectancy of less than 12 months. Terminal illness cover does not usually apply during the last 12 to 18 months of the period of cover.

Critical illness cover

We offer a policy which combines level term life insurance with critical illness cover.

Waiver of premium

This policy option allows you to protect your monthly life insurance premium if you are unable to work following an accident or illness. If you are unable to work six months after an accident or becoming ill, your insurer will pay your monthly premium until you are assessed as being fit to return to work.