Lifetime Cover

Lifetime Cover is a simple whole of life insurance policy that can help ensure there’s money in place to pay for bills or unexpected expenses when you die. The benefit amount can either be level or increasing, depending on the financial commitment you wish to protect.
See Key Features of Lifetime Cover for more information.

There are several reasons why Lifetime Cover may be important to you. It can help:

• give you peace of mind knowing you have some protection for the future
• provide a cash sum  to help pay for bills or unexpected expenses when you die
• ensure that you’ve taken care of things for when you die

Lifetime Cover is life insurance that lasts until you die. You pay an amount each month until you reach age 90. After age 90, your cover continues but you don’t pay any further premiums. You can take the policy out on a single life basis or with two lives assured.

The cash sum you are covered for is called the benefit amount and it’s paid out when you die (single life basis), or if there are two people covered, when the last person dies (two lives assured). The policy has no cash-in value at any time. Also, if you don’t pay your premiums in time your cover will stop, your benefit will end, and you’ll get nothing back.

Life Cover provides cover for a specific term that you choose at the start of the policy. Lifetime Cover lasts for the whole of your life.

If you apply for a Lifetime Cover policy for a benefit amount of £15,000 or less on a single life basis, you’ll be accepted for cover in almost all circumstances* (exclusions may apply in some instances). The application process is simple with no medical**.

For some customers, an exclusion may apply so that if you die within the first two years of the policy, we won’t pay the benefit amount but will return the premiums you’ve paid under the policy. This is unless it’s an Accidental Death as defined in the Policy Provisions.

* To be accepted for cover you must be between the ages of 18 and 74, resident in the UK and have a UK bank account.
** As with all our contracts, we carry out random checks of recently started Lifetime Cover policies so if your policy is chosen, you’ll be asked within 30 days to undergo a medical examination. If, as a result of this examination, we find out that you’ve failed to tell us about a piece of material information, we can change or even cancel your policy.

You can take out Lifetime Cover on a single life basis or with two lives assured. Lifetime Cover with a benefit amount of £15,000 or less is only available on a single life basis.

Yes. Once your policy is set up you have the flexibility to apply to change the amount of cover at any time. Some changes will lead to us carrying out further underwriting.