LIFE INSURANCE


MY LIFE INSURANCE.

A straightforward life insurance policy that provides individual cover for your life only. With premiums starting from £5 a month, the policy could help provide some financial security for your family or loved ones if you die.

My Life Insurance is only available to existing Halifax customers who are registered for Online Banking and is provided by Scottish Widows, part of Lloyds Banking Group. You must be over 18, under the age of 60 and a UK resident to apply.

Why My Life Insurance?

  • Get an instant decision – as an existing Halifax customer registered for Online Banking your cover could start today.
  • Cancel your policy at any time - you’ll receive a refund of any payments made if you cancel within 30 days of receiving your policy documentation. If you cancel at any other time you won’t receive anything back.
  • Tailor the cover to suit your family’s needs - choose the term and the amount and type of cover. Watch our video to learn more.

And it’s cheaper than you might think. You could get cover from £5 a month. Sign in to Online Banking to get a quote and apply.

  1. Do I need life insurance?
  2. How much cover would I need?
  3. How long should I take out a policy for?
  4. How much does life insurance cost?
  5. What happens if I stop paying my monthly premium?
  6. What's the difference between level and decreasing cover?
  7. Does My Life Insurance include critical illness cover?
  8. Can I take My Life Insurance out with my partner?
  9. What if I already have a life insurance policy?
  10. Can I purchase life insurance with my mortgage?
  11. What if I need some advice on life insurance?
  12. Who is Scottish Widows?
  13. How do I make a claim or cancel my policy?
  14. How do I get replacement documents if I've lost them?

Do I need life insurance?

If you die, life insurance can help by paying out a cash lump sum to your family or loved ones to use however they need to. Perhaps to help with the mortgage or loan repayments or bills. This cash lump sum is called the 'sum assured' or amount of cover.

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How much cover would I need?

It depends on your personal circumstances. Some things you may want to consider are:

  • how much your family would need to support themselves without your income
  • the size of your mortgage and how long it’s got to run
  • any other outstanding loans or debts you have
  • the amount you want to pay each month for cover.

You can use our cover calculator to help you understand how much cover you might need. My Life Insurance only offers cover up to £500,000 per life.

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How long should I take out a policy for?

It’s up to you how many years you want your life to be insured for. For example, until your children leave home, until your mortgage is repaid, or until you retire. This is called the 'term'.

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How much does life insurance cost?

For your life insurance you’ll pay a 'monthly premium'. The amount of premium will depend on your age, your health, how long a term you choose, the sum assured, and the type of cover. Life insurance policies have no cash-in value at any time.

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What happens if I stop paying my monthly premium?

My Life Insurance has no cash in value at any time so if you stop paying your monthly premium, your cover will cease, the policy will end and you'll get nothing back.

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What's the difference between level and decreasing cover?

Most life policies offer two options, 'level cover' and 'decreasing cover'. Watch our video to learn more.

For 'level cover', you choose the size of the sum assured. If you die during the policy, this amount can be paid out to your loved ones. The amount that can be paid out stays the same over the length of the policy. You’ll pay the same amount each month and this won’t change during the length of the policy.

For ‘decreasing cover’, the amount paid out decreases over the length of the policy. Some people use this when they have a repayment mortgage or other commitments that gradually get repaid. The amount you pay is typically cheaper than level cover, and also stays the same each month.

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Does My Life Insurance include critical illness cover?

No, critical illness cover is not included in My Life Insurance. If you require this type of cover, it's offered through Scottish Widows Direct on 0345 769 7564. Scottish Widows Direct is part of Lloyds Banking Group.

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Can I take My Life Insurance out with my partner?

No, this policy covers one life only. Your partner can apply for their own policy separately, or you can enquire about joint cover by contacting Scottish Widows Direct on 0345 769 7564. Scottish Widows Direct is part of Lloyds Banking Group.

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What if I already have a life insurance policy?

You can still apply for My Life Insurance. However, before selecting the amount of cover you need, it’s important to consider any existing financial protection you may have. This could include other life insurance policies, cover through work, or even personal savings. Any existing financial protection may impact the amount of new cover you require.

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Can I purchase life insurance with my mortgage?

If you’re applying for a mortgage with us, you can speak to your mortgage adviser, who'll be able to advise you on your life insurance needs. You'll receive advice on a different life insurance product, the features and price will differ from My Life Insurance.

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What if I need some advice on life insurance?

We won’t be able to provide you with advice when buying My Life Insurance.

Should you need advice on your protection needs, visit The Money Advice Service, an independent and impartial service, set up by the government, which provides details of local financial advisers. Financial advisers may charge for their advice.

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Who is Scottish Widows?

Scottish Widows is a life, pensions and investment company that's been helping people plan their financial futures for over 200 years. Like Halifax, Scottish Widows is part of Lloyds Banking Group.

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How do I make a claim or cancel my policy?

For My Life Insurance policies, you can call Scottish Widows on 0800 849 6089. Lines are open Monday to Friday 9am - 5.30pm. Scottish Widows may record and monitor calls to help improve their service.

Or you can write to Scottish Widows, PO Box 1140, St Albans AL1 9UQ, quoting your policy number.

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How do I get replacement documents if I've lost them?

If you've lost your My Life Insurance documentation you can call Scottish Widows on 0800 849 6089. Lines are open Monday to Friday 9am - 5.30pm. Scottish Widows may record and monitor calls to help improve their service.

Or you can write to Scottish Widows, PO Box 1140, St Albans AL1 9UQ, quoting your policy number.

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How much cover do I need?

Work out how much life cover you may need in a few simple steps.

Step 1 of 5

Do you want to leave any money to cover monthly expenses?

£

Step 2 of 5

Do you have a mortgage you'd like cover for?

£

Step 3 of 5

Do you have any other outstanding debts you'd want to pay off?

£

Step 4 of 5

Do you want to leave your family a cash lump sum?

£

Step 5 of 5

Do you have any existing savings or life insurance policies?

£
£

These amounts will be subtracted from your estimated cover amount.


Here's a summary of the life insurance cover you may need

£

to cover your monthly expenses

+

£

to cover your mortgage and other debts

+

£

lump sum payout for your family

-

£

saving and life insurance you already have

=

£replace me

the total life insurance cover you may need - you'll need this when you apply.

Please note: My Life Insurance only offers cover up to £500,000

Based on the information you have provided, you may already have sufficient arrangements in place to cover your life insurance needs. If your circumstances change, you can recalculate how much cover you may need at any time.

If you'd still like to purchase life insurance:

Ready to get your personalised quote and apply?

Sign in to get startedClose and Continue



Ready to get your quote and apply?

It’s quick and easy to apply for My Life Insurance - sign in to Online Banking and you could be covered in just six steps.

If you're not registered for Online Banking yet, it's easy and only takes about 5 minutes. Find out how to register.


Already have a My Life Insurance policy?

You can view your My Life Insurance policy details in Online Banking.

Or, if you need to talk to someone about your existing My Life Insurance policy you can call Scottish Widows on 0800 849 6089. Lines are open Monday to Friday 9am - 5.30pm.


Important protection information

In 2013, our industry regulator the Financial Conduct Authority (FCA), completed an investigation into the reward schemes we offered our branch based financial advisers, for advising customers on investment and protection products.

As a result of the investigation, we are now undertaking a review of investment and protection products purchased through our financial advisers.

Find out more

If you've a query about a life insurance product which is no longer available, you can still contact us. Make sure you have your policy number to hand when you call.

If your policy starts with 5 call
0800 032 0947

(Mon-Fri: 8am-6pm Sat: 9am-12.30pm)

If your policy starts with TMP or 14/ call
0845 600 1194

(Mon-Fri: 8am-6pm Sat: 9am-1pm)

If your policy starts with COV or MOR call
0870 901 0137

(Mon-Fri: 8am-6pm Sat: 9am-12.30pm)

If your policy starts with HX6 call
0870 901 0137

(Mon-Fri: 9.30am-5pm)