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What's the proper photographic term?

Whats the difference between level cover and term cover in life insurance ?

  • Term: This means you only get a payout if you die within a fixed term e.g. 18 years. Level: This means because the payout you get doesn't vary, it's always at a set amount. i read this but i dont get it ? please help

  • Answer:

    There's no difference between "term" and "level" because they are two words that decribe the same product: Level Term. As opposed to, Decreasing Term, where you pay the same amount in, but the death benefit declines every year.

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There are two types of cover - term (for a fixed number of years) and Whole of Life. Term cover can have a payout which is level (payout doesn't vary) or escalating (payout increases by say the increase in inflation each year). The cover you are talking about is level term cover. This is one type of cover not more than one. Hope that makes sense?

Nick

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