Answer:

The lump sum associated with a Life Insurance policy is the amount of money that your kin will receive should you pass away.

If you have a Level Term Life Insurance policy this figure will be the amount that you decided to take out at the start of your policy. For Decreasing Term Life Insurance policies the lump sum benefit will be updated on a monthly or yearly basis, dependant upon the insurer, to a lower sum assured at a set decrease rate. Similarly, the sum assured of an Increasing Life Insurance policy will increase at a set rate on a yearly basis provided that you take advantage of this benefit at the annual review.

If you have any more questions give us a call on 0800 567 7450 or if you would like more information on Life Insurance click here.

Request a Callback

Name:

Number:

Email:

Contact Time:


Talk to a Friendly Adviser

Please feel free to call us on 0800 567 7450 and one of our qualified insurance advisers will be happy to assist you.

Get a Quote

Please feel free to request a quote from us using our online form. As a broker we search a fair analysis of the whole market and will always take your specific risks and concerns into account. For this reason we do not currently offer prices online but will always do our best to reply to you by email, text or phone as soon as possible.

The more information that you can provide us about your health conditions, hobbies, travel and/or occupation the better as this will help us to provide the most accurate indications of price.

Get a Quote