Demo rate cardFrom £8.20 a month; £0.00 excess; cover up to £300,000.00
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | Level term life insurance |
| Rate, reward or charge | From £8.20 a month; £0.00 excess; cover up to £300,000.00 |
| Cover limit | up to £300,000.00 depending on the level chosen |
| Access | No cash value; the sum is paid on a valid claim during the term and premiums stop when the term ends |
| Eligibility in the scenario | A story customer aged 35 in the illustration, in fictional good health |
| Fees | £0.00 excess per claim |
| Cover levels | £100,000 over 20 years at £8.20 a month; £200,000 over 20 years at £15.10 a month; £300,000 over 20 years at £22.00 a month |
| Currency | GBP (£), used solely for fictional calculations |
Monthly premium by cover level
| Cover level | Monthly premium | Over a year | Cover limit |
|---|---|---|---|
| £100,000 over 20 years | £8.20 | £98.40 | £100,000.00 |
| £200,000 over 20 years | £15.10 | £181.20 | £200,000.00 |
| £300,000 over 20 years | £22.00 | £264.00 | £300,000.00 |
Premium assumptions: a story customer aged 35 with a fictional address in Acornshire, no previous claims and a £0.00 excess. Real premiums depend on real details; these depend on nothing.
A worked claim: the policyholder dies during the term
| Item | Model amount |
|---|---|
| Cost of the loss | £200,000.00 |
| Excess | £0.00 |
| Paid to the story customer | £200,000.00 |
Premiums over the term
| Cover | Monthly premium | Paid over 20 years | Sum assured |
|---|---|---|---|
| £200,000 over 20 years | £15.10 | £3,624.00 | £200,000.00 |
What the model covers
- A fixed lump sum if the policyholder dies during the 20-year term
- Terminal illness in the final years of the story
- Premiums that never change during the term
What it does not cover
- Anything after the term ends, when cover simply stops
- Claims within the first year for undisclosed conditions
- Any real person, because nobody is insured
A claim is paid less the excess, never more than the cover limit. No real policy, claim or insurer exists behind this page.
Squirrel Life Cover is level term life insurance in the Insurance range, used for leaving the story family with a fixed sum rather than a fixed problem. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
From opening figure to closing figure
A useful ledger separates money you contribute, interest, growth or rewards you earn, money you withdraw and any fees or borrowing charges. The examples below follow that order. A transfer between your own pots changes the location of money, not the total you own. The closing balance should always reconcile with those movements.
See the whole Insurance range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Insurance — Cover for Dreys, Travels and Tails
- Squirrel Life Cover — Which Squirrels Can Join?
- Squirrel Life Cover — Your First Imaginary Acorn
AcornBank: entirely fictional banking, exceptionally committed squirrels.