Friends Provident life insurance packages include two options; one for life cover that pays a cash sum on the event of your death or diagnosis with a terminal illness during the policy term; and one for a critical illness diagnosis or in the event of permanent and total disability.
Both the life cover and critical illness packages are available as level cover or decreasing cover options. Level cover refers to a policy that pays out a tax-free cash sum if you die or develop a critical illness during the life of the term. The amount paid out will remain the same for the duration of the set period, and will be determined by your premium - the higher your premium, and the longer your policy term, the higher your payout will be. Decreasing cover is linked to your mortgage, and reduces in accordance with the outstanding balance on your mortgage so that the amount is repaid in full on your death or diagnosis with critical illness.
At the end of a Friends Provident life insurance policy the policy is of no value. Friends Provident life insurance products do not carry a cash-in value or accumulate returns over time, as they are not investment vehicles or savings accounts.
For other life insurance options, including policies that guarantee a payout upon your death to provide for your dependants, complete the form on this page. You can speak to a life insurance expert for free, independent advice on the best life insurance options to match your lifestyle.