Cover Direct

With Cover Direct you can get life cover without the need for lengthy application forms, a medical or underwriting delays. Your Cover Direct Life Insurance plan will pay a lump sum of money if one of the lives covered dies during the term of the policy. All you need to do is choose how much cover you want, how long you would like to be covered for... and whether you need level or decreasing cover. These 2 options are explained below in order to help you make the right choice: Also can be used to cover the fixed amount on an interest only mortgage or loan, where the amount you owe stays the same year on year Can be used to cover the reducing amount owed on a capital and interest repayment mortgage or loan, where the amount you owe decreases year on year Level term insurance can also include a clause for terminal illness. This means that if you are diagnosed with one of the eligible illnesses and expected to die within 12 months, you and your family can enjoy a lump sum to help you get through those difficult months. Claims will be accepted in the final year of the policy provided that the life assured meets the TI definition. For decreasing cover the claim is accepted at the date it meets the terminal illness definition and the claim amount is calculated at the value of the last monthly decrease as at that date. With this type of insurance, your premiums are fixed at the time you agree to the cover. As life insurance generally gets more expensive the older you become, getting a level term policy while you are still young and healthy can help you fix your payments at a more affordable level.Read More