Life Insurance

Fixed Term Life Insurance.

Prepare for life’s uncertainties with Pure Cover’s Fixed Term Life Insurance, providing essential support during challenging moments.

What Is Fixed Term Life Insurance?

As the name suggests, term plans provide coverage for a set duration. The duration of those fixed terms can be decided by you upon application. Whether it’s five years or 50, you can also pick the set payout. Whether your death comes in the first month of the term or the last, your family will be paid the same amount.

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When is it Best to Choose a Fixed Term Life Insurance?

Frankly, the stability offered by fixed-term insurance packages makes them a good option for most applicants. However, people in some situations are particularly suited to this option. When you have an interest-only mortgage, for example, this is the perfect form of protection

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Plan for a stable future with Pure Cover’s Fixed Term Life Insurance. This specialized insurance provides essential protection for a specific period.

What Other Factors Should be Considered?

Deciding to go for a level fixed-term life insurance plan is a great starting point, but it should be tailored to your needs too. There are several extra situations to consider. Perhaps most importantly, you should consider whether to get a single or joint plan.

Frequently asked questions


What is a fixed term life insurance policy?


When would someone choose fixed term over permanent life insurance?


Can the coverage amount of fixed term life insurance be increased?


Is fixed term life insurance renewable?


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Ensure your family’s financial security with Pure Cover’s Fixed Term Life Insurance. This specialized insurance is designed to offer essential support during challenging moments

Why you could benefit from fixed term life insurance

Fixed term life insurance, also known as level term life insurance, is a form of life insurance policy that offers coverage for a specific duration. The policy pays out a lump sum to the policyholder’s beneficiaries if they die within the term of the policy. This can provide financial security to family members should the worst happen.

Taking out a fixed term life insurance will give you emotional reassurance and will build a financial safety net that will protect your family in the event that you pass on. It will provide a cover for the fixed rates of payments for a relevant period of time.

With these factors to consider, finding the right package can still seem a daunting prospect. However, your peace of mind is only a few steps away.

Level Term Life Insurance

Level term life insurance policies often come with additional benefits such as critical illness cover. This provides financial protection in the case of serious illness and can help to cover medical or care costs. It can also provide financial protection to the policyholder’s family or dependents in the event of their death.

Temporary Life Insurance

Level Term Life Insurance, also known as temporary life insurance, term life insurance, or life assurance. This unique policy sets a coverage period, typically running from as little as 2 years up to 50 years., promising a lump sum payout to your chosen beneficiaries upon your passing.

But here’s the best part; You only pay premiums during the term. Once the term is over, your coverage ends, and you’re off the hook for any future payments. It’s a simple, straightforward approach to ensuring financial security for those you care about most.

Fixed Term Insurance

Securing financial protection for a specific time frame, like covering your mortgage or providing a safety net for your family’s income, should something happen to you. That’s precisely what fixed term life insurance policies offer. Plus, some policies even include perks like critical illness cover, providing a lump sum payout if you’re diagnosed with a specified critical illness, or a maturity value, offering a payout at the end of the term.

Fixed term life insurance, also known as term assurance, is a specially designed policy to provide capital coverage over a fixed period, usually between 10 and 30 years. Unlike term insurance, which continues to pay until the end of your life, this policy pays out a lump sum to your loved ones if you pass away during the specified period.

Why choose fixed term life insurance? It’s a cost-effective way to ensure your family’s financial security. It’s an excellent choice if you want to provide for your family in case of your untimely demise, but don’t need life insurance cover for the entirety of your life.

Decreasing Term Life Insurance

You are shopping for life insurance and come across two intriguing options: level term insurance and decreasing term insurance. With level term insurance, you get a fixed cover that doesn’t change throughout the policy term. On the other hand, decreasing term insurance offers a cover that gracefully reduces each year following a pre-set schedule.

Level term life insurance, while a bit pricier, promises constant premiums throughout the policy’s life. It’s a fantastic choice for those seeking a high level of cover, or individuals wanting to secure their family’s future, regardless of unpredictable financial fluctuations over the policy’s life.

Conversely, decreasing term life insurance is a more economical choice, with premiums that decrease annually. This coverage is perfect for those who need a lower level of protection or want to cover a specific time frame, like the duration of a mortgage.

Level Term Life Insurance

When taking out a level term life insurance policy, it is important to consider the cost of the premiums and the length of the policy, as this will have an impact on the overall cost of the policy. It is also important to consider the different types of cover available and the amount of coverage you require.

Fixed Term Critical Illness Cover

Critical illness cover can sometimes be added to fixed term life insurance policies. This provides a payment if you’re diagnosed with a critical illness, such as cancer, during the course of the policy.

Decreasing Term Life Insurance

Decreasing term life insurance is a type of fixed term life insurance policy where the amount of cover decreases over the life of the policy, usually in line with a repayment mortgage, with the idea that life insurance cover is no longer needed when the mortgage has been paid off.

Fixed Term Life Insurance

Fixed term life insurance is a type of life insurance policy that offers life cover for a set period of time. It is sometimes referred to as level term life insurance since the insurance provides a fixed level of life cover over the policy’s term. This type of life insurance is ideal for those who want to make sure their loved ones are financially provided for in the event of their death.

Fixed term life insurance is a form of life insurance which provides a lump sum benefit amount to the policyholder’s beneficiaries in the event of death. The benefit amount is set at the start of the policy and the cash value of the policy does not change over time. The policyholder pays an agreed monthly premium and this covers the coverage amount of the policy. This type of level cover is beneficial for those who are looking for short term protection, such as those with young families, as it can cover funeral costs and other expenses which may arise.

50s Life Insurance

Imagine a safety net for your loved ones, tailored to your specific needs and circumstances. That’s exactly what a term life insurance policy can provide for those over 50. It’s your choice of coverage duration, from one to thirty years, and the type of protection, be it life cover, income protection, or even specialised life insurance for over 50s. The power is in your hands to shape your policy.

Yes, fixed term life insurance policies might be pricier than their whole life counterparts, but think about the peace of mind they can offer. These policies are like invisible shields, safeguarding the financial future of your loved ones should life throw a curveball. With the right balance of coverage and term length, you can ensure that your nearest and dearest are financially secure, even in the face of the unexpected.

Decreasing life insurance

Ever heard of decreasing life insurance? Unlike its counterpart – permanent life insurance, this one only has your back for a specific time frame. It may not be forever, but it’s got you covered for the duration of your policy.

Here’s the twist: the death benefit of this type of policy shrinks gradually over its life. If the policyholder passes away post-policy period, the beneficiaries only get a fragment of the original policy value. It’s also worth mentioning that, unlike permanent life insurance, a fixed-term policy doesn’t kick in if you’re diagnosed with a terminal illness.

What Is Fixed Term Life Insurance?

As the name suggests, term plans provide coverage for a set duration. The duration of those fixed terms can be decided by you upon application. Whether it’s five years or 50, you can also pick the set payout. Whether your death comes in the first month of the term or the last, your family will be paid the same amount.

This type of coverage is also known as level fixed term life insurance, as the payout remains stable at all times.

For most people, knowing that the family will be OK should the worst happen is the only real incentive for taking out insurance. So if the worst does happen, at least you’ll die knowing that the financial worries are covered.

Pros & Cons Of Fixed Term Life Insurance

Fixed term packages are among the most popular solutions for applicants of all backgrounds. However, there are positives and negatives to consider. Analysing them in detail is the only way to make a calculated decision.

The Pros

  • This package offers a set payout regardless of other situations. This sense of certainty can be crucial for your peace of mind.
  • The payouts can be built to suit the needs of your family. This allows you to take mortgages , living costs, and other factors into account.
  • You’ll know the full repayment details from day one, and those will not change.
  • It’s cheaper than whole life coverage.

The Cons

  • The package only covers you for the term. If you outlive the plan, there will be no payout for you or the family.
  • The set payout could become less valuable over time due to the rate of inflation. This is especially true for longer terms.
  • Your family’s needs may change during the term. If you want the plan to reflect this, decreasing terms may be better.

When is it Best to Choose a Fixed Term Life Insurance?

Frankly, the stability offered by fixed-term insurance packages make them a good option for most applicants. However, people in some situations are particularly suited to this option. When you have an interest-only mortgage, for example, this is the perfect form of protection.

Likewise, it’s a good option for those that only have financial worries for the next few years. Parents may only need to cover their lives until the kids are grown up. This, combined with the ability to write the policy to bypass the 40% inheritance tax, makes it a great solution.

What Other Factors Should be Considered?

Deciding to go for a level fixed term life insurance plan is a great starting point, but it should be tailored to your needs too. There are several extra situations to consider. Perhaps most importantly, you should consider whether to get a single or joint plan. Both options have pros and cons, but a joint option often works out better if at least one of you outlives the policy.

Meanwhile, it can be beneficial to add coverage for terminal or critical illnesses. They might not prevent you from outliving the plan, but they will inevitably have a huge influence on your lives. Not least on a financial front.

Securely Purchasing Fixed Term Life Insurance

Ever considered securing your loved ones’ future with a safety net? That’s where level term life insurance steps in. Monitored under the vigilant eyes of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK, this insurance provides that much-needed financial cushion for a set period.

Imagine having the peace of mind, knowing your family’s financial security isn’t left to fate should a key family member pass away. That’s the assurance level term life insurance delivers. It’s a popular choice offered by most leading insurance providers in the UK, all under the strict regulation of the FCA and PRA.

Financial Conduct Authority

Ever wondered who’s got your back when it comes to financial products in the UK? Meet the FCA, our vigilant financial regulator. Their mission? To safeguard consumers and ensure the smooth operation of financial markets.

One of their key roles is to make sure every financial product, including level term life insurance, is sold in a fair and responsible way. If firms or individuals dare to step out of line, the FCA isn’t afraid to take action. They’re the superheroes of regulatory requirements, ensuring your financial safety.

Prudential Regulation Authority

Ever wondered who’s the guardian angel of financial safety in the UK? Meet the PRA, our Prudential Regulator. Their mission? To safeguard financial stability, ensuring firms are up to scratch with necessary standards.

When it comes to level term life insurance, the PRA is on the ball. They make sure these firms maintain suitable solvency margins, ensuring they’re always ready to meet their financial commitments.

And there’s more! The PRA doesn’t stop there. They also set minimum capital requirements for insurers, ensuring firms always have enough financial backing to meet their obligations. With the PRA, you can rest easy knowing your finances are safe and secure!

Where is the Best Place to Get Fixed Term Life Insurance?

Good question. By now, you should realise that no two candidates are identical, which is why you need a service that is tailored to your specific needs. Thankfully, we can point you in the direction with our support and unbiased reviews. This makes the process simpler while ensuring you get the best deal too.

Take the first step towards your level fixed term life insurance by clicking the button below.

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