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What is life insurance?

Life insurance can act like a safety net. It pays out a cash lump sum if you die before your policy ends. So it could help your loved ones cope financially when you can't be there.

A life insurance policy can give you peace of mind that you've protected what matters most.
 

Are you eligible for life insurance?

To apply for cover, you must be:

  • a UK resident
  • 18 years of age or older.

You do not need a medical exam, and you will get your decision the same day.

Video about life insurance.

How does life insurance work?

With life insurance you can:

  • select the amount and duration that is right for you
  • cancel at any time, free of charge
  • get a cash lump sum for your loved ones if you die before your policy ends.

With life insurance, you can't:

  • get any money back unless a successful claim is made
  • change your policy after it has started
  • keep your cover if you miss your monthly payments.
  • Life insurance might be right for you if you:

    • have children or loved ones who rely on your income
    • have other dependents who might struggle to get by without you
    • are the main earner in your family
    • have a mortgage or other debts.
  • It might help to think about the kind of support your loved ones would need, if you couldn’t be there. Things like:

    • helping with day-to-day costs
    • paying off any debts you may have, like a mortgage
    • leaving money for the future.
  • The amount of cover that's right for you depends on a few factors. In case of your death, what kind of support would your loved ones need? You can pick the amount cover that’s right for you and your loved ones.

    Want help with working out what you need? Try our life insurance calculator.

    Calculate your cover

  • It might help to think about life’s milestones, like the number of years until: 

    • your children turn 18
    • your mortgage is paid off
    • you reach state pension age. 

    You can get cover from 5 to 40 years, up to age 69.

How much does life insurance cost?

Life insurance costs vary according to how much cover you need, your age, and other factors such as your health history. Premiums start from £5 per month*, but to get a more accurate idea of how much your cover could cost you'll need to get a quote online.

If you have a history of smoking, this can also increase your life insurance costs as the risk of death is greater. We also take into consideration lifestyle factors, such as dangerous jobs or hobbies.

If you decide to add Critical Illness Cover to your life insurance policy when you apply, this will be for an extra cost.

* 9% of customers paid £5 per month for Halifax Plan and Protect Life Insurance bought online between 01 Jun 22 and 31 May 23. Price is based on single level life insurance excluding critical illness cover and is subject to underwriting criteria that depends on personal circumstances. Prices are subject to change.

Get covered today

This table below shows what the price might be, based on your age group. It shows how the monthly cost you pay for life insurance can be lower if you take it out sooner.

Age

18-25

26-50

51-59

Example monthly cost of life insurance

£9

£15

£20

Age

Example monthly cost of life insurance

Age

18-25

Example monthly cost of life insurance

£9

Age

26-50

Example monthly cost of life insurance

£15

Age

51-59

Example monthly cost of life insurance

£20

50% of our customers paid these prices or less for single level Plan & Protect life insurance bought online between 31 Jan 23 and 31 Jan 24. 

Note, the sample size for 18-25 life is 225.

Prices are subject to underwriting criteria that depend on personal circumstances and are subject to change.

What's the right time to get life insurance?

The significant changes in life can give you a good chance to think about how you can protect your loved ones from the unexpected.

Getting married

Getting married could be a good time to think about the unexpected, and how cover could help to protect your partner.

Getting a mortgage

If something happens to you, your cover could pay out a cash lump sum to help your loved ones pay off the mortgage.

Having children

Getting cover when you have a child could make sure of their financial protection if anything happens to you.

Changing jobs

If your income changes, you might want to think how this could affect the cover you and your loved ones would need.

Divorce/separation

Getting a divorce or separating is a significant life change and it can impact your financial situation and responsibilities.

Being a carer

There might be others who rely on you or your income. Your cover could protect them too.

What type of life insurance do I need?

There are different types of life insurance policies available. We offer a level-cover life insurance policy online. Here's how it works.

Image demonstrating level cover.

Level cover - cover and payments stay the same

How does level cover work? 

Level cover means that the cash pay-out stays the same until your policy ends. You'll pay the same amount each month. 

What’s the benefit of level cover? 

With level cover, the amount that gets paid out if a successful claim is made won't change. So you and your loved ones will always know how much cover you'll have in case the unexpected happens.

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Mortgage protection insurance

Your home is the heart of your family. But life is unpredictable, and sometimes things happen that we never see coming. 

With this insurance, you can have peace of mind knowing that your family can stay in their home, even during difficult times. So take care of your family's future and protect the ones you love.

Find out more about mortgage protection insurance.

Get protected by experts

Our life insurance is provided by Scottish Widows. They're a part of Lloyds Banking Group, like us. Scottish Widows are our life insurance experts, and they've been protecting what matters most for over 200 years.

Here are a few reasons why they could be the right choice to protect you and your loved ones:

98% of claims paid out

Scottish Widows paid out 98% of claims in 2023. That’s £243 million in total.

Support when you need it

Scottish Widows works closely with partners like Macmillan Cancer support.

Over 200 years of experience

Scottish Widows has been protecting customers for over 200 years. So you’re in safe hands.

Scottish Widows protection products have no cash-in value at any time. So if the policy ends without a claim, you won't get any money back. If you don't make payments on time, your cover will stop, your policy will end and you'll get nothing back.

 

Need to speak to someone?

Cavendish Online is here to help find the cover that is right for you.

Like us, they are part of Lloyds Banking Group. They'll give you guidance on Scottish Widows life insurance and/or critical illness policies.

Trustpilot rate them as 'Excellent' 4.9/5.

They won't charge you for their guidance and you do not need to take the product as a result of speaking to them.

Call: 0800 131 0299

Lines are open Monday to Thursday 10am -7pm, Friday 10am- 6pm.

Or request a call-back at a time that suits you.

Request a call-back 

Did you know?

Our critical illness cover includes an early-stage cancer payment of £5,000. This is on top of the agreed lump sum.

One of our customers Patricia, 47 said:

“I couldn't get an online appointment. I had to go with a private healthcare provider, who did an ultrasound. And that's when I was told I had Thyroid Cancer. The diagnosis was a real shock.”

“I'm planning to use my claim to pay for my course of treatment privately.”

Critical illness cover

If you were diagnosed with a critical illness, you might not be able to work. Critical illness cover could pay a cash lump sum to help you and your loved ones keep up with day-to-day costs. This could let you focus on your own health and wellbeing.

Find out more about critical illness cover.

Ready to get a quote

Get a quote and decision in under 10 minutes. Simply sign in to Online Banking or use your Mobile Banking app.  Just look for ‘Life insurance’ in the Product menu to start.

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Existing customer support

Do you need help with your existing policy?

If you already have an existing life insurance policy and need further support, such as:

  • how to update my details
  • selecting who the funds will go to
  • changing payment date.
Help for existing customers

Do you need to make a life insurance claim?

Scottish Widows will do all they can to make sure your claim is handled as quickly and smoothly as possible.

Here is how we can support:

  • What you’ll need to make a claim.
  • How you can contact us.
  • What you will need to send.
  • Further help and support.
Make a life insurance claim

Your questions answered

  • Life insurance could pay out a cash lump sum if you die before your policy ends. It's designed to help your loved ones cope financially when you can't be there.

    When you apply for your policy, you’ll select the size of the cash lump sum that will get paid out when a claim is made. You’ll also select how long you want to be covered.

    You’ll pay a fixed amount each month by Direct Debit, until your policy ends. Your policy doesn’t have a cash-in value. This means that if it ends without a claim, then you won’t get the money back.

  • Scottish Widows might not be able to help if you have a pre-existing condition. But if they can't offer you a policy, they'll let you know how to get more help or advice.

  • We want to make sure you get the help you need.

    To get advice about life insurance, contact Cavendish Online. They can help find cover that’s right for you and your loved ones.

    Cavendish Online won't charge you for their advice, and you're under no obligation when you speak to them.

    Call Cavendish Online on:

    0800 131 0004

    Lines are open Monday to Thursday 9am - 7pm, Friday 9am - 6pm.

    Cavendish Online is a part of Lloyds Banking Group. They'll give you advice on Scottish Widows protection products.

  • Life insurance costs vary according to how much cover you need, your age, and other factors such as your health history.

    The price will also change based on your age, health and lifestyle. You’ll pay a fixed amount each month until your policy ends.

  • No. Your policy only pays out if you make a successful claim. If your policy ends without a successful claim, then your cover will end, and you won’t get any money back.

    Make sure you pay each month on time, or your cover could stop.