What types of cover are available?

There are two different types of term life insurance available - Level and Decreasing cover.
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A Level Term policy pays out a fixed amount no matter when you claim during the policy term. Your premium is the same every month, but the total cost paid over the term could be more than that of a Decreasing Term policy.
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With Decreasing Term cover, the amount insured will decreases over the term of the policy. This type of cover is typically taken out for capital and interest mortgages. Your premium is the same every month, and the total cost paid over the term might be lower than that of a Level Term policy.