Short term life insurance refers to a policy taken out to provide cover protection for one year or less.
It's often put in place in addition to an existing long term life insurance policy, offering an extra layer of cover for a short period of time, when risk is increased.
In this scenario, if you were to pass away your loved ones would receive two pay outs; one from your standard life insurance and another from your short term life insurance.
Short term life insurance is rarely the best option on its own, as the sum assured is too small to provide sufficient cover.
This type of cover is also expensive, relative to the sum assured and term length; compared to standard life insurance.
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