By taking out Life Insurance you can help make sure your family have some financial security if you die.

What is Life Insurance?

Life Insurance covers you for an amount of money that you select when you apply. This is called the cover amount. The policy will cover you for a set period of time - called the policy term. It will pay out the cover amount if you die within the term.

Why choose Life Insurance:

Life Insurance will pay out if you die within the policy term. We will cover you for terminal illness if you are diagnosed within the policy term and have a life expectancy of less than 12 months. You have the option to cover two lives (known as a joint policy).

You can choose:

Level cover: pays the cover amount as a cash lump sum on a successful claim. The cover amount stays the same throughout the policy term.

Decreasing cover: pays the cover amount as a cash lump sum on a successful claim. The cover amount decreases each month, broadly in line with the amount outstanding on a repayment loan, such as a capital and interest mortgage, using a fixed interest rate selected at the start of the policy.

Family income cover: pays the cover amount as monthly instalments on a successful claim. The monthly instalment stays the same throughout the policy term and is payable from the date we accept a claim until the policy end date. We’ll pay more in total if a claim is made in the early years than towards the end of a policy.
You can include critical illness cover in your Life Insurance policy.

House purchase cover:  this could provide free life cover once we have accepted your application during the exchange and completion process of buying a house. To provide some peace of mind we’ll pay the cover amount up to £500,000 if you die before completing the purchase of your home. into two single policies without any further medical questions being asked. It covers divorce, dissolution of a civil partnership or separation and rearranging your mortgage into one name.

Ways to personalise your cover:

These can all be added to your cover for an additional cost when you take out cover. Some of these options may only be available if you’re accepted on standard terms. Also, some options may only be available if you choose level or family income cover - your financial adviser can explain more about these.

You can include critical illness cover in your Life Insurance policy. You can customise your cover by adding:

Fracture Cover: waiver of premiums if you’re unable to work due to illness or injury we may be able to pay your premiums for you.

Increasing cover: this is a good way to protect your cover against inflation. The amount you are covered for will increase, as will your premiums at a higher percentage rate.

Renewal option: this lets you renew your cover at the end of your policy without us asking any further medical questions.

Conversion option: this lets you convert your policy into a whole of life policy without us asking any further medical questions.

Life Insurance+: covers you during your policy term but a whole of life policy will pay out when you die, whenever that might be. This is not available if you choose to add critical illness cover to your policy.