No-one knows what will happen as they get older. That’s why it is important to plan for the future. You have to decide how best to provide suitable financial protection for you and your family.
With this in mind, we can offer you, through our partnership with Norwich Union a Term Assurance plan which can provide protection against death and critical illness, subject to the terms and conditions of the policy.
What is a Term Assurance plan?
It’s an insurance plan that pays out a cash sum if you
- die during the term of the plan
- are diagnosed as suffering from a terminal illness or
- are diagnosed as suffering from a critical illness covered by the plan (if chosen)
This lump sum can be spent in any way that you or your loved ones choose. You can take out the plan on your own or with someone else.
The cover
Cover is subject to status. The plan can cover yourself, the other person or both of you.
You must be 16 to 89 years of age at the start of the plan. If you’re aged 59 or under, the plan can’t go beyond your 70th birthday. If you’re aged 60 or over, the maximum plan term you can have is nine years.
If you choose critical illness cover, your children will also be automatically covered under the children’s critical illness benefit (see Norwich Union’s Guide to Critical Illness Cover for more details).
The plan pays out only once, so if it does pay out after you make a claim for terminal or critical illness, your plan will end (except for a claim under the children’s critical illness benefit).
Advantages
- You can build your Term Assurance plan so that it fits your individual requirements. You can choose the amount of the lump sum, any options you want and the length of the plan term at the outset.
- There are 26 critical illnesses covered under this option. For more information on the illnesses covered, see Norwich Union’s Guide to Critical Illness Cover. Norwich Union Life Services Limited is registered in England.
- Free accidental death benefit is provided during the period that your application is being processed.
- If you choose critical illness cover, your children will also be automatically covered under the children’s critical illness benefit.
Important information
Northern Bank can provide you with advice on Life and Critical Illness Insurance which is provided by Norwich Union Life Services Limited. Northern Bank Limited is registered in Northern Ireland, No. R568; registered office: Donegall Square West, Belfast BT1 6JS. Northern Bank is a member of the Danske Bank Group.
Norwich Union Life Services Limited is registered in England, No. 2403746; registered office: 2 Rougier Street, York YO90 1UU. Financial Services Authority Registration, No. 145452. Norwich Union Life Services Limited represents only the Norwich Union Marketing Group, members of which are authorised and regulated by the Financial Services Authority, for life assurance, pensions and investments.