Glossary

How much will the plan pay out?

The amount we'll pay out when you die depends on your age at the start of the plan, gender, the monthly premium you've chosen and how long the plan has been in force.

You should be aware that there is a possibility that the amount paid out when you die may be less than the premiums you have paid. In addition, as the life insurance amount is fixed, inflation may reduce the amount that can be bought with it in the future.

Can I have more than one plan?

Yes, but for plans issued on or after 25/01/2010 the number of plans you can have is restricted to a total monthly premium of £100 per life insured. Where plans have been issued in excess of this limit, they will be cancelled and premiums paid refunded. Any plans issued before 25/01/2010 are not taken into account when applying this limit.

Can my partner get cover too?

If your partner is also a UK resident between 50 and 80 years of age and has not exceeded the £100 premium limit, they can take out a plan with the same guarantees - simply get them to complete the partner's application form.

What happens if I die within a year of taking out the plan?

If you die from natural causes within a year, we'll return the premiums you've paid. If you have a fatal accident within the first year, well pay out the life insurance amount.

What happens if I die more than a year after taking out the plan?

If you die from natural causes after the first year, we'll pay out the life insurance amount when you die. If you have a fatal accident after the first year, we'll double the life insurance amount.

Can I cash in the plan?

The Guaranteed Lifelong Protection plan doesn't have a cash-in value at any time.

If you stop paying your premiums before the final one is due, your life insurance cover will end 30 days after the missed premium was due. You wont get back any of the premiums you've already paid.

If you already have life insurance, its worth checking the details of your plan and making sure its sufficient for your needs. It may be about to come to an end or it could be worth less than you thought due to inflation.

Are there any other life insurance plans?

Yes, there are other products available where you would need to answer health questions and maybe have a medical examination. The premiums for these will therefore vary according to the state of your health and type of life insurance plan, and could be cheaper. If you would like to know about other life insurance plans, or have any doubts about whether this product is suitable for you, then speak to one of our advisers.