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Life Insurance has 2 main forms:


1. Decreasing Term Assurance: This type of policy provides coverage for a specified period, typically used to protect a mortgage. The insured amount decreases over time in line with the outstanding mortgage balance. If the policyholder passes away during the term, the policy pays out a lump sum to help repay the remaining mortgage, providing financial security for the family or dependents.

2. Level Term Assurance: With level term assurance, the insured amount remains fixed throughout the policy term. If the policyholder dies within the specified term, the policy pays out a predetermined lump sum to the beneficiaries. This type of policy is often used to provide a consistent amount of financial protection for loved ones or to cover specific debts or expenses.

In summary, decreasing term assurance is typically used to cover mortgage-related debts, where the coverage amount decreases over time. On the other hand, level term assurance offers a consistent payout and is often used for general family protection or to cover fixed financial obligations.


As with all insurance policies, conditions and exclusions will apply. The cost of this insurance depends on several factors, such as your age, where you live, and your occupation. As a result, the cost you will pay is based on your own circumstances.

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Life Insurance

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