Protection
Term insurance: protection, kept simple.
If people depend on your income, term insurance helps ensure they can still meet their goals and commitments if you're no longer there to provide for them.
01
What it is
Term insurance is a life insurance policy that pays a fixed sum to your nominee if you pass away during the policy term, in exchange for a regular premium.
It is pure protection. A standard term plan does not build savings or pay anything if you outlive the term, which is why it can provide a large amount of cover for a comparatively modest premium.
You choose the amount of cover (the sum assured), how long it lasts, and how premiums are paid. Optional riders can add features such as accidental death or critical illness benefits.
- Sum assured
- The amount paid to your nominee if a valid claim is made during the policy term.
- Policy term
- How long the cover lasts, often chosen to run until your financial responsibilities are expected to end.
- Riders
- Optional add-ons, such as accidental death, critical illness or waiver of premium, available for an additional premium.
- Payout options
- Some plans let the nominee receive the sum as a lump sum, as regular income, or a combination.
- Return of premium
- Some variants return premiums if you outlive the term. They cost noticeably more than a standard term plan.
- Disclosure
- Your health, lifestyle and medical history must be disclosed accurately. Insurers may ask for medical tests.
02
Who it may be suitable for
- Anyone whose income supports a spouse, children or parents
- People with home loans or other significant liabilities
- Business owners who want to protect their family from business-related obligations
- Young earners looking to secure cover while premiums are typically lower
Suitability depends on your individual circumstances. This list is general, not a recommendation.
03
How it works
- 01
Estimate the need
We look at your income, dependants, liabilities, goals and existing cover.
- 02
Compare plans
We help you understand features, riders and terms of relevant plans from the insurers we work with.
- 03
Apply and disclose
You complete the proposal with full and accurate disclosure. The insurer may request medical tests and decides on acceptance and premium.
- 04
Stay supported
Help with nominee updates, policy servicing and guidance for your family during a claim.
04
What we help with
- Working out an appropriate amount and term of cover
- Explaining riders, payout options and exclusions in plain language
- Reviewing existing life cover, including employer group cover
- Proposal forms, medical test scheduling and documentation
- Guidance and documentation support for nominees during claims
05
Key considerations
- A standard term plan has no maturity or survival benefit. It is protection, not an investment.
- Acceptance and premiums are decided by the insurer based on age, health, lifestyle and underwriting guidelines.
- Non-disclosure or incorrect information can lead to a claim being rejected.
- Policies have exclusions, so read the policy wording carefully.
- Employer life cover usually ends when you leave the job.
- Claim settlement is determined by the insurer under the policy terms.
06
Frequently asked questions
How much term insurance do I need?
It depends on your income, the number of years your family would need support, outstanding loans, future goals such as children's education, and existing savings and cover. Some people use a multiple of their annual income as a starting point, but a proper look at your liabilities and goals gives a better answer. We're happy to work through it with you.
What happens if I outlive the policy term?
With a standard term plan, the cover simply ends and no amount is paid. Return-of-premium variants refund premiums at maturity, but cost more. Whether that trade-off makes sense depends on your priorities.
Is term insurance an investment?
No. Term insurance is pure protection. It's designed to replace your income for your family if you pass away, not to grow money. Investments are best considered separately.
Can I get cover if I have a health condition or smoke?
Often, yes, but the insurer may ask for medical tests, charge a higher premium, apply exclusions or decline cover. Disclosing everything accurately is essential, as non-disclosure can affect a future claim.
Is employer life cover enough?
Group cover from an employer is helpful, but it typically ends when you change jobs and may be lower than your family's actual needs. Many people hold a personal term plan as well.
Talk to us about Term Insurance.
A relaxed, no-obligation discussion about where you are and where you’d like to be. Bring your questions. We’ll bring clarity.