You can choose to take out life cover either as a single or joint policy.
- Single life cover – insures one person, and this policy pays out if there is a claim to that person during the term of a policy. Single life insurance only pays out once.
- Joint life cover – this type of policy covers two people’s lives, but also only pays out once. This payment will usually be a lump sum, which goes to the survivor after the first person dies within the term of a policy. The policy then ends, with no further life insurance cover for the survivor.
Terminal illness cover – this cover is included at no extra cost, and pays out a lump sum if you are diagnosed with an incurable illness