Temporary Life Assurances
- Temporary Life Assurances are a lump sum benefit in the event of death, serious illness or both.
- Optional benefits may be added; some examples of options are: conversion to permanent life assurance; indexation of benefits with inflation (cost of living adjustment).
- Term of coverage is usually between 30 to 35 years.
- Costs are the lowest and vary by age, smoking status and policy term.
- Premiums and cover are guaranteed.
- Tax relief may apply on premiums within certain limits and conditions; otherwise there is no tax relief on premiums and no tax on benefit.