Term assurance is the most basic type of life insurance. Term assurance policies are taken out as means of insuring against death within a specified period. The periods provide life cover only.

Despite the relative simplicity of the product type, there are a fair number of different variations of term assurance:

Level term assurance
Renewable term assurance
Convertible term assurance
Decreasing term assurance
Increasing term assurance
Index linked term assurance
Family income policies
Escalating family income policies
Index-linked family income policies