Life insurance is a contract between an insurance policy holder and an insurer to help protect loved ones financially in the event of their death. 

The insurer promises to pay the designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person (the policy holder). These premiums can be paid monthly or annually. 

Level Term is when a lump sum is paid out in the event of the Policy holders death. This lump sum is the same amount regardless of whether death is in the first or last year of the policy.

Decreasing Term is designed to help protect a repayment mortgage, so the amount of cover reduces roughly in line with the balance of your mortgage each year.

Optional extras include waiver of premium, Total Permanent Disability and Index linked all contain there own unique benefits.

This can be daunting however you don't need to worry because your personal advisor will tailor a policy around you to ensure your family receive the correct amount of money when they need it most.