Life Cover

Overview

More and more people are recognising the importance of arranging adequate financial cover should they die, to help protect loved ones.

Without suitable provision in place, you may leave your partner or spouse with large debts, such as loans and credit card commitments, as well as the cost of regular household living expenses.

Our Life Protection Life Cover plan is designed to provide a cash lump sum payment if you should die, or you are diagnosed with a terminal illness, where life expectancy is no greater than 12 months, and death is expected to occur within the term of the policy.

At a Glance

• Provides a cash lump sum to help protect your loved ones should you die

• Cover between £1,000 and £850,000 available, subject to your income and the minimum premium

• Early payout if you are diagnosed with a terminal illness where life expectancy is no greater than 12 months and death is expected to occur within the policy term

• Choice of level or decreasing term cover which can be used for mortgage purposes if required

• Payments are tax-free (although any death benefit may be subject to inheritance tax)

• You are covered 24 hours a day, 365 days a year once you are accepted for cover.
  

Please read our Key Points to Note section

Key Points to Note

• The policy does not have a cash surrender value
• There is a minimum premium of £10 per month per policy
• Where a policy is written under trust, the death or terminal illness benefit will be paid to the trustee
• The policy is fully underwritten and subject to medical acceptance
• You do not need to remain a permanent resident in the UK in order to receive benefits under our Life Protection policy, but should you become a permanent resident in a country instructed by the Office of Foreign Assets Control (OFAC) United States Department of the Treasury as being subject to sanctions, your policy will terminate immediately without any value
• All premiums and benefits must be payable in Sterling from and to a UK bank account
• To make a claim for terminal illness, the claim must be supported by a diagnosis confirmed by a registered medical practitioner in one of the acceptable countries as specified within the policy terms and conditions
• Benefits are fixed and do not increase in line with inflation. Inflation may erode the buying power of your benefit. You cannot claim for a terminal illness diagnosed within 12 months of the policy end date
• We do not provide cover for those in the armed forces and certain other occupations. Premiums may be higher for those who work in high risk occupations
• The policy does not cover death or diagnosis if it arises directly or indirectly from HIV infection
• When selecting term length, cover must end on or before your 70th birthday.