Life Protection

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Cover that pays a lump sum on death during a set term

No-one wants to think about leaving their loved ones behind and for them to suffer financial hardship. So if the worst happens and they pass away, your client will want to make sure their loved ones are protected.

With Life Protection, your client can plan to support their family when they’re no longer here. Whether it’s to help pay off a mortgage, support children if they go to university or simply to ensure your client’s family have money to live on – Life Protection offers this peace of mind.

Our cover offers many features, including:

• Guaranteed premiums.
• Pays a cash lump sum on death during the term.
• Terminal illness cover included at no extra cost.
• Level, increasing or decreasing cover options.
• Optional waiver of premium.

Product profile

With a cash lump-sum paid on death or diagnosis of a terminal illness, our Life Protection helps your client secure their loved ones’ future. Learn more about eligibility, target market, distribution strategy, risks and limits in our Life Protection product profile and Waiver of Premium: Waiver of Premium product profile

Important information

Tailoring your recommendations will give your client peace of mind, knowing you’re securing their loved ones’ future. Here are some important things you should know about our Life Protection:

• We provide a one-off payment if your client dies or is diagnosed with a terminal illness before the end date of their policy.
• If your client stops paying their premiums, the policy may stop and they won’t get any money back.
• The policy has no cash in value at any time.

• We won’t pay a claim if your client dies as a result of intentionally taking their own life within 12 months of the start date of the policy.
• If your client chooses level cover, it won't keep up with inflation and could buy less in the future.

Cover options, tailored to your clients’ needs

Level life cover

Level life cover suits clients who are looking for fixed cover - the policy pays out the same lump sum throughout the duration of the policy. It’s suited to clients looking for certainty, as the amount of cover is fixed for the term of the policy. Level life cover won’t keep up with inflation and will buy less in the future.

Decreasing life cover

Decreasing life cover suits clients who are looking to cover the reducing amount they owe on a capital and interest repayment mortgage, or other loans. The amount of cover goes down each year, but the premiums stay the same.

Inflation-linked cover

Inflation-linked cover suits clients who are looking for the amount of cover to go up each year, in line with the Retail Prices Index (RPI) to keep up with inflation. The premium goes up by inflation multiplied by 1.5.

Level life cover

Level life cover suits clients who are looking for fixed cover - the policy pays out the same lump sum throughout the duration of the policy. It’s suited to clients looking for certainty, as the amount of cover is fixed for the term of the policy. Level life cover won’t keep up with inflation and will buy less in the future.

Decreasing life cover

Decreasing life cover suits clients who are looking to cover the reducing amount they owe on a capital and interest repayment mortgage, or other loans. The amount of cover goes down each year, but the premiums stay the same.

Inflation-linked cover

Inflation-linked cover suits clients who are looking for the amount of cover to go up each year, in line with the Retail Prices Index (RPI) to keep up with inflation. The premium goes up by inflation multiplied by 1.5.