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Direct Life offer two types of Life Insurance:

Level Term Life Insurance

Level Term Life Insurance pays out a fixed cash lump sum if you die during the policy term, provided you are still paying the monthly premiums. The length of the policy and the cash lump sum amount will be fixed when you take out the policy and the premium you pay will be decided by the insurer – it will remain fixed until the policy ends.

This type of Life Insurance can be used to financially protect your family or pay off an interest only mortgage, should you die before the policy ends.

Mortgage Protection Life Insurance

Mortgage Protection Life Insurance pays out if you die during the policy term, provided you are still paying the monthly premiums. The amount of money the policy pays out will decrease during the term of the policy; this is designed to match the decreasing amount owed on your mortgage.

This type of Life Insurance can be used to pay off the outstanding balance of a repayment mortgage if you die before the policy ends.

Terminal Illness benefit in most cases is included free of charge on Life Insurance policies.

Terminal Illness benefit pays out the sum assured immediately (instead of on death or critical illness) if the life assured is diagnosed as being terminally ill, with a life expectancy of less than 12 months typically, provided you are still paying the monthly premiums. This cover does not usually apply during the last 12 to 18 months of the period of cover.

In partnership with Direct Life

*£5 monthly premium is based on a non-smoker born on 01/01/1984 for £70,000 Level Term Life Insurance for 20 year term. Premium correct at 30/09/2014.