WHAT IS LIFE INSURANCE?

We have put together some short guides to explain how life insurance works. They can help you to make the right choice for you and your loved ones.

We help cut through the jargon to find the cover that is right for you. Halifax makes it simple.

Step 1

LIFE INSURANCE EXPLAINED

A life insurance policy pays out a cash sum to your loved ones when you die. While you are covered, you pay a monthly amount called a ‘premium’.

Think about the people who rely on you. Think about the kind of help they would need if you were not there. Life insurance can help you take care of your loved ones, even when you are gone.

Common questions


Step 2

WHO NEEDS LIFE INSURANCE?

If you have children or a partner that depends on you financially, then you should think about life insurance. Here are some reasons why:


Make sure your family always has a home

Our home is usually the biggest financial commitment we will make in our lives. If something happens to you, life insurance could help your family pay off the mortgage.

Mortgage payments are usually our biggest expense each month and most families would struggle to cover the cost if they went down to a single income.

If something happens to you having the right cover in place could help. It could help free your loved ones from worrying about day to day living costs and let them focus on what is most important.


Leave something behind

As you get older, you might think about leaving something behind. Life insurance can help you to take care of your loved ones even when you are gone.


Cover the cost of your funeral

The average cost of a funeral in the UK is £3,757*. Life insurance could help to cover this cost and help your loved ones at a difficult time.


Protect your dependents futures


In the UK the average cost of supporting a child to age 18 can be £155,100*, including child care. Life insurance could help to support your children even if you cannot be with them. It could help support them through university. Or buy their first home. Or pay for a dream wedding.

We want the best for our children, so it makes sense to protect their financial future in case the worst happens. From birthdays, to Christmas, to university fees: it can all add up.

*Money Advice Service


Step 3

HOW DO I GET LIFE INSURANCE?

First, work out how much cover you need. Our life insurance calculator can help you find the right level of cover.

Then choose from a range of cover options:

Cover Type

Help your family keep their home

Protect your children or dependant’s future

Leave something behind

Cover the cost of your funeral

Help cover bills or medical expenses

Life insurance

Yes

Yes

Yes

Yes

Critical illness cover

Yes

Yes

Yes

Life insurance with Critical illness cover

Yes

Yes

Yes

Yes

Yes

Lifetime cover

Yes

Yes

Life insurance


Help your family keep their home

Yes

Protect your children or dependant’s future

Yes

Leave something behind

Yes

Cover the cost of your funeral

Yes

Help cover bills or medical expenses

Critical illness cover


Help your family keep their home

Yes

Protect your children or dependant’s future

Yes

Leave something behind

Cover the cost of your funeral

Help cover bills or medical expenses

Yes

Life insurance with Critical illness cover


Help your family keep their home

Yes

Protect your children or dependant’s future

Yes

Leave something behind

Yes

Cover the cost of your funeral

Yes

Help cover bills or medical expenses

Yes

Lifetime cover


Help your family keep their home

Protect your children or dependant’s future

Leave something behind

Yes

Cover the cost of your funeral

Yes

Help cover bills or medical expenses

When you have found the cover that is right for you, there are a few ways you can apply:


Existing customers

If you have access to Halifax Online Banking, just sign in to get a quote and start your cover in minutes.

Sign in now


New customers

If you are new to Halifax, or if you want to talk to us, we are happy to help find the cover that is right for you and your loved ones. Call Scottish Widows to get a quote and apply for cover.

Call us on 0345 122 1602


Visit us in branch

If you already have a Halifax mortgage and would like to speak to us, our advisers are ready to answer your questions and help find the cover that is right for you.



STILL HAVE QUESTIONS?

Visit our frequently asked questions page for answers about life insurance and critical illness cover.

Common questions


Get in touch

We have a dedicated team ready to take your call.


New customers

We can give you a life insurance quote along with information to help work out what cover is right for you.


Call us on 0345 122 1602

Line are open Monday - Friday 9am - 6pm.

Find your nearest branch


Existing Halifax mortgage customers only.


Looking for advice?

If you would like to get independent advice about life insurance, talk to LifeSearch. They can discuss and advise on your cover needs over the phone.


Call LifeSearch on 0800 804 6825.

Lines are open Monday to Thursday 8am – 8pm and Friday 8am - 6pm.


LifeSearch is not part of Lloyds Banking Group.


Need to make a claim?

We paid out 98% of claims in 2018* so you know you can rely on us to support you when it matters most.

We have a dedicated claims team that will support you or your beneficiary with a claim if you need to make one. Click below to find out more.

Find out how to make a claim

*This figure is based on the number of Life Cover and Critical Illness Cover claims paid out by Scottish Widows between January 2018 and December 2018

FSCS protected


Important information

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.