How does life cover work?

Life cover pays out a predetermined lump sum of money if you die within a certain time period.

This payment can be used to:

• protect your loved ones financially if you die
• ensure the financial survival of your business, in the event of the death of a key employee or director

Single, dual and joint life cover

Most of our policies are available on a dual or joint life basis as well as a standard single life policy. 

Single life cover

• Taken out by one person
• Is payable on their death during the term of the policy
  

Dual life cover

• Taken out on behalf of two people
• Is payable on each death during the term of the policy

Joint life cover

Joint life cover is also taken out on behalf of two people. It can be taken out on a first death or second death basis:

Policy	When will policy pay out?
Joint life first death	After the death of the first person named on the policy
Joint life second death	After the death of the second person named on the policy