Why should I get level term life insurance?
If you have been through the process of buying a house, then you may already know that mortgage lenders will usually insist on having life insurance in
place. Many people opt for a level term life insurance policy because that fixed sum of money is enough to pay off the remainder of the mortgage.
The main thing that sets level term life insurance apart from other types of life insurance, is that the final lump sum paid out remains the same regardless
of how many mortgage payments are left. For example, if you were to pass away with only one monthly payment left, your beneficiaries can use it to
pay off the small remainder and then use the rest for other payments e.g. debts or funeral costs.
Taking out any kind of life insurance policy, including level term, provides you, your partner and your family with financial peace of mind knowing that
mortgage payments can still be met should the unexpected happen.