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Term Life

What is term life insurance?

Term life insurance is better understood as a life insurance policy that covers you for loss of life for a fixed term. A policy that is fixed term has a limited duration and once it has expired, it will be entirely up to you whether you want to renew your coverage or simply let it lapse. If you let the policy lapse, you will not be insured and your dependents will not receive a lump sum pay-out in the event of your death.

The cost of the premium you pay for your term life insurance policy will depend on a number of factors, namely your age, health and the life insurer’s determination of life expectancy (meaning, how long the insurer thinks you will live). The amount you will be covered for will be fixed at the beginning of the policy and will not change. It is important to bear in mind however, that if your policy is for a fixed term and you decide to renew when it runs out, the premium will be recalculated based on your increased age and will therefore cost you more.

What are the advantages and disadvantages of a term life insurance policy?

The advantages of a term life insurance policy are that you will leave a cash sum to your family and dependants which will help them pay funeral costs, pay off a mortgage, or secure their financial position when you die. You have the certainty of the cost of your premium and the amount the policy will pay out, because these are fixed.

The main disadvantage of term life insurance is that if you die after the policy ends, there is no cash pay-out. In addition, as there is no investment component with a term life insurance policy, as there is with a whole life insurance policy, you will not receive any money back at the end of the term, no matter how much you paid in or for how long.

It is important to weigh up the considerations. For expert advice about choosing the right policy, talk to us here at Continental.

Continental are the experts you need

We are leaders in the field of insurance throughout the Middle East. We’re committed to providing personalised solutions for your specific life insurance requirements. Talk to our qualified and experienced team of consultants today about your needs and we’ll help to clarify the type of life insurance that would work best for you.

Three reasons to choose Continental

1.

A network of qualified professionals

We acknowledge our role as your guide in the world of financial planning and advice. Our advisory and consulting services empower you to navigate your options, enabling the creation of effective solutions that align with your goals.

With a dedicated team of over 300 qualified professionals operating across the Middle East, Europe, and Asia, Continental is committed to delivering exceptional service and impartial advice on policies of insurance for critical illness, supported by our expertise, extensive experience, and a steadfast philosophy of prioritising your best interests.

Our commitment to ongoing education, research, and technological advancement ensures we remain at the forefront of the industry, enabling us to help you reach your aspirations.

2.

Multifaceted solutions

At Continental, there’s nothing more important than your financial security. Whether you are securing your family’s future, assisting your clients or planning your own expansion, Continental can provide the guidance and resources necessary to reach your financial goals and aspirations quickly and efficiently.

Our extensive range of solutions from reputed local and international partners allow us to offer you the most comprehensive financial and insurance solutions in the market with a commitment to provide a dedicated and personalised service to you at all times.

3.

A personalised approach

We believe that personal relationships take precedence in both life and business. Our connections are built on a foundation of trust, which we diligently uphold, complemented by a skilled and experienced team.

To help you meet your unique financial goals and aspirations, we ensure that our advice and recommendations are tailored to suit your objectives, risk tolerance, time horizon, cash requirements and other key parameters. We source solutions that are designed based on your long-term interests which could vary from minimising risk, preserving wealth, to maximising income or accumulating capital and other financial desires.

The quality of our service relies on confidentiality, trust and discretion, which make us the preferred choice for our clients.

What our clients say about us

FAQ

1. How long should I take term life cover for?

The length of your term life insurance policy is a matter for you to decide. It will vary depending on your individual circumstances. You will need to consider why you are choosing term life insurance. If it is to cover you while you have financially dependent children or a mortgage for example, this would affect your choice of length of term for your policy.

2. What is the length of term life insurance?

The length of your policy will depend on your aim when you take the policy out. Here at Continental, our experts typically see policies lasting 10, 15, 20, 25 or 30 years.

3. What is a yearly renewable term?

A yearly renewable term (YRT) policy has no specified term and is renewable every year, without the need for fresh evidence of your insurability. However, you need to be aware that while the premiums on a YRT policy begin low, they tend to increase annually, and your age is always taken into consideration.

Other life insurance policies

Whole Life

A guaranteed pay out whenever you pass – with premiums and sum assured linked to an investment fund.

Learn More

Critical Illness

Complete protection for your uncovered medical bills and household bills should you fall seriously ill.

Learn More

Universal Life Insurance

More flexible, permanent coverage which offers low-cost protection alongside a savings element that grows over time.

Learn More

Endowment Plans

Coverage for death, as well as offering savings that build up, released on maturity should you survive the policy term.

Learn More
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