THE FLORENTE GUIDE · TERM LIFE INSURANCEStart with your family’s needs
Consider financial dependants, outstanding debts, future commitments, and existing assets. The cover amount and duration should reflect those needs.
Understand what you are buying
Term insurance generally provides a death benefit during a defined period. Standard pure term cover does not pay a maturity benefit if the insured person survives the term. Variants have different terms.
Be thorough with your application
Answer the insurer’s questions accurately, including health, tobacco use, occupation, and existing policies. Review the proposal before you approve it.
The details to put side by side.
Cover amount
List the financial commitments your family would need to meet.
Policy duration
Check the age at which cover ends and the premium-payment period.
Disclosures
Answer the insurer’s medical, occupation and lifestyle questions accurately.
Nominee and claims
Keep nominee details current and share claim contacts with your family.
Start with the responsibilities.
A family with a home loan and a child’s future expenses will have different commitments from someone without financial dependants. List those commitments before comparing cover amounts.
Bring these to your conversation.
- Your existing life-cover details, if any.
- A list of dependants, debts and future commitments.
- Questions about policy duration, premium payments and optional riders.
- Any application or policy wording you would like explained.
Your next step
Use the checklist, review the insurer’s current policy documents, and write down anything you want clarified before you choose.
Open your checklist