Customer Adviser Partner

Term life insurance

What is Term life insurance?

Types of Term life insurance

How it works

Can I get cover with Cignpost Life?

Types of Term Life Insurance

There’s different types of life insurance; they all aim to offer financial protection for when the policy holder dies and offer slightly different types of cover.

The alternative to a Term life policy is a Whole of life policy. These pay out whenever you die - and as this will happen at some point, these policies are typically more expensive. It’s also known as life assurance.

Cignpost Life insurance is a Term life policy.

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Level term

The payout and cover stays the same throughout the amount of time you are insured for. Put simply, you decide the amount of cover to take out and that’s what the policy pays. This is often taken out for families, who want to cover for costs such as protecting their families lifestyle or child care costs as well as monthly outgoings such as a mortgage.

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Increasing term

Increasing term policies, as the name suggests, this increases the payout the longer the policy runs. The cover amount increases each year by 3% and your premiums increase by 3.75% each year to pay for the increased cover and age. The increasing option helps to provide some degree of protection against the risk of inflation.

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Decreasing term

This means the cover amount decreases each year to pay off an outstanding mortgage or loan by the end of the term based on an interest rate of 8%. This is because your debt should be decreasing as you repay it over time.

How it works

Immediate decision

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We do things differently

Instant online cover

Purchase life insurance anytime in just 5 minutes, using our simple online application - we understand life is busy, so you can get cover instantly online whenever it suits you.

Quick & simple application

We use a straight forward, short application form and keep jargon to a minimum to help you get cover quickly and simply.

Terminal illness cover included

If you’re diagnosed as being terminally ill, we’ll pay the cover amount*.

Cover to fit your situation

Choose the cover amount, type and the length of time you’d like to be covered to fit your situation and budget.

*full details in our Terms and Conditions

  • Buy online
  • Complete in
    5 minutes
  • 5 yes / no medical
    history questions
  • Cover from £5*
    per month
  • Critical illness cover
    as an add on
Insurance times Coverex cellence Protection Review
Cignpost Life is underwritten by   iptiQ

Cignpost Life is a trading style of Albany Park Limited which is authorised and regulated by the Financial Conduct Authority. Financial Services Register number for Albany Park Limited is 304130. Albany Park Limited (part of the Inchora Group of companies) is a registered company in England & Wales. Registered number 04296341. Registered and trading address is: Inchora House, Building X92 Cody Technology Park, Old Ively Road, Farnborough, Hampshire, GU14 0LX. Your Cignpost Life Plan is administered and underwritten by iptiQ Life S.A. UK Branch registered in England and Wales. Registration No: BR017015. Registered Office: 30 St Mary Axe, London EC3A 8EP. iptiQ Life S.A. is a public limited company (societéanonyme) incorporated and registered in Luxembourg. Registered Office: 2, rue Edward Steichen, L-2540 Luxembourg, Grand-Duchy of Luxembourg. R.C.S. Luxembourg B 184281. Authorised and regulated by Le Commissariat aux Assurances. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

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