1. Amount of Cover
This is the amount that will be paid if the policyholder dies during the insured period. The typical policy in the UK is currently £140,000 over 25 years. For a normal ('level term') policy this amount will not change during the insured period. To cover a repayment mortgage a 'decreasing term' policy is available to provide cover which will decrease in line with the balance of the mortgage.

2. Critical illness cover
This pays out the insured amount if you are diagnosed with one of the specified Illnesses. Not all Life companies cover the same Critical Illnesses and you should read and check the company's Key Facts and other documentation carefully to ensure it is suitable. Critical Illness tends to be 3-4 times more expensive than Life Insurance.

3. To cover mortgage
This type of policy is designed to cover the duration of your mortgage and in the case of a repayment mortgage the cover will decrease in line with the balance of the mortgage. This is generally a cheaper option as the cover is decreasing.

4. Guaranteed Fixed Repayments
A Guaranteed Policy means your monthly premium payments will not change during the insured period. The alternative is a Reviewable premium, which is generally Guaranteed for the first 5 years, after which monthly premiums could change (and possibly increase) at the discretion of the Life Insurance company.

5. Are you a Smoker?
Most insurance companies define a smoker as someone who has used tobacco during the previous 12 months; this includes nicotine patches and chewing gum. A simple medical test can detect whether you have smoked in the previous 12 months.