Short term life cover is more useful than you might realise

Life cover and critical illness cover are usually associated with the full term of a mortgage. But it is possible to have cover from a year down to a single day.

Part of its appeal is that applying for short term cover can be a much simpler and quicker process than for a whole life or mortgage term life policy. Some people use it as temporary cover while they go through the application process for longer life products. This is sometimes called emergency insurance.

Short term life and critical illness cover, for typically less than five years, can be taken for various other reasons:

  1. Business cover
  2. Between employment
  3. Bridging loans

As the cover is for a relatively shorter term the premiums are not as high as many people think, due to the low probability of claiming. Of course if you do need to claim during that time, it could be priceless.

Choosing the best life cover depends on your budget, your age, and the amount of cover you want. That’s why you should shop around. Come and talk to us at Limetree – we will give you independent advice about products right across the whole market.

Posted in Insurance, Life Assurance