Our life insurance helps to protect your loved ones financially in the event of your death. You choose the amount of cover you need and the length of time you want to be insured for.
Your policy is designed to pay out your chosen amount of cover if you die during the length of the policy. It could be used to help pay the mortgage or help protect the family's lifestyle and everyday living expenses. Life insurance is also known as life assurance or level term assurance.
Our life assurance premiums can cost as little as £6 per month, that's the equivalent of just 20p a day. Your individual premium will depend on your own needs and circumstances.
How much life insurance do I need?
It depends on your individual circumstances. You may want to think about leaving a lump sum to your dependants or help clear an outstanding mortgage on your death. If you'd like more help our life cover calculator may be useful or speak to your financial adviser.
What's the difference between life insurance and Over 50s life insurance plans?
Life insurance is designed to pay out a cash sum if you die during your chosen period of cover, which is a maximum of 50 years, but the policy must end before your 90th birthday. Life insurance is underwritten so during the application process we'll ask questions about your medical history, occupation and lifestyle.
Over 50s Life Insurance is designed to cover you until you die no matter when death occurs, providing you have held the plan for more than one year. To apply, you must be aged 50-80 and a UK resident. Over 50s life insurance is not underwritten so you wont be asked any medical or health questions.
There are other important factors that you need to be aware of on both types of plan, so please read all the information available:
Our policies allow you to make changes giving you the freedom to:
Change the term
Increase or decrease the amount of cover
Remove a life from a joint policy if cover is no longer required for that person
Change the frequency of your premium between annually and monthly
We also offer 'Joint life separation'. This allows a joint policy to be split into two new single policies if a couple divorce, dissolve their registered civil partnership or change a joint mortgage into one name.
What's the difference between Terminal Illness Cover and Critical Illness Cover?
Terminal Illness Cover is included on our policies at no extra cost (minimum term of two years). It could pay out your chosen amount of cover if you're diagnosed with a terminal illness and have a life expectancy of 12 months or less, rather than on death. Providing financial support at a time when it could be needed the most.
Critical Illness Cover is available when you buy your life insurance at an additional cost. It's designed to pay out your chosen amount of cover if you're diagnosed with one of our specified critical illnesses during the length of your policy.
Yes, our life insurance policies can be placed in Trust. Putting your plan in Trust can help to ensure that the right people receive the policy proceeds in the event of a claim. It can also help to reduce Inheritance Tax and a pay-out where the policy is in Trust is generally quicker than one where a grant of probate is required.
Use our Online Trust Hub to help you choose the right type of Trust for you. You can enter your details online before printing the Trust form off to sign and send to us.