Life cover & benefits
Is term insurance the same as life insurance?
Term insurance is a type of life insurance. All life insurance pays on death; term insurance does only that, for a fixed term, with nothing paid on survival. Other life policies, such as endowment, money-back and ULIPs, add savings or investment, so they cost more for the same cover.
In short
- Term is one type of life insurance.
- It is pure protection for a fixed term.
- Other life plans add savings or investment.
- Term gives the most cover for the premium.
How do they differ?
| Term insurance | Savings-linked life insurance | |
|---|---|---|
| Pays on death | Yes | Yes |
| Pays on survival | No | Usually, yes |
| Cover for the premium | Highest | Lower |
Which should I choose?
For protection, term insurance. Keep savings and investment separate. Our page on types of life insurance explains each kind.
Frequently asked questions
Is term insurance life insurance?
Yes. It is the pure-protection type of life insurance.
What is the difference between term and life insurance?
Term pays only on death within the term; other life policies add savings or investment.
Which is better, term or endowment?
For pure protection, term gives far more cover for the premium.
What happens when you talk to us
A 20-minute video call with a Growth Advisor. No obligation, and no quote pushed. It opens with a five-minute video from our founder on how the benefits stack works and why Ethika exists; the rest is your questions. You’ll leave with an honest read on your current cover and claims experience, and a straight answer on whether we can genuinely help, even if you never become a client.
20 minutes with a Growth Advisor. No obligation.
A note on this page. Everything here is general information, not insurance, legal, financial or tax advice, and nothing is an offer. No insurer or product is named or recommended. What any policy covers depends on its own wording and schedule. For advice about your situation, talk to us.