Life Insurance

Life insurance

Life insurance is where the cover and monthly payment (premium) you choose will stay the same for the length of your policy, unless you make any changes. If you pass away while covered, your family will get a cash sum to help with things like household bills or child care costs, for example.

Decreasing life insurance

Decreasing life insurance means the amount of cover will decrease over time, roughly in line with the way a repayment mortgage decreases. It's usually used to help protect a repayment mortgage. If you pass away while covered, your family would get a cash sum which could be used to help pay the mortgage.

• Cash lump sum payment – you choose how much cover you need and how long you need it for. We’ll pay out a cash sum if you were to pass away after a valid claim is made.
• Guaranteed premiums which can be made monthly or annually. They won’t change unless you make changes to the policy.
• Accidental Death Benefit at no extra cost. We’ll cover you while we process your application, giving you peace of mind that you’re covered in case of accidental death. Terms and conditions apply.
• Free Life Cover included at no extra cost. If you’re moving home, we offer free life cover between exchange of contracts and completion of your property purchase. In Scotland we provide the free cover from when you complete missives for your chosen property until the date of entry. Terms and conditions apply.
• Terminal Illness Cover – you're covered from day one of your policy starting. We will pay out if you're diagnosed with a terminal illness that meets our definition. See the Policy Terms and Conditions for more information.
• Joint life separation – should you divorce/dissolve a registered civil partnership we can cancel your policy and set up two single policies. Terms and conditions apply.
• Critical Illness Cover – for an extra cost you have the option to add this when you take out your life insurance policy.

• Not paying your premiums. If you stop paying premiums when due, your plan will be cancelled and you won't get anything back
• No cash value. This is not a savings or investment product and has no cash value unless a valid claim is made.
• Suicide or intentional self-injury in the first year. The policy will be cancelled if within the first year you die as a result of suicide or intentional and serious self-injury or an event where, in our reasonable opinion, you took your own life.
• You're covered only for the policy term. You're covered for your chosen length of policy until the expiry date, unless the amount of cover is paid out, or the policy is cancelled by you or us. Cover will stop when the policy ends and no further premiums will be payable.
• If your life insurance is to cover your mortgage, your policy may not completely pay off your outstanding mortgage unless you make sure your cover amount is adjusted to match any new mortgage arrangements. If you take out Decreasing Life Insurance you should also check that the interest rate on your mortgage does not become higher than the rate applied to the policy. The rate will be shown in your Personal quote or the Policy documents.

Policy documents

See a full list of what is and isn't covered in our policy documents before you apply. If you are an existing customer please refer to your policy documents for details of your cover.