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Life cover FAQs
Find answers to the most common questions about life cover.
How life cover works
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Life insurance pays 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 choose the size of the cash lump sum that will get paid out when a claim is made. You’ll also choose 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.
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This kind of cover pays out a cash lump sum if you are diagnosed with an illness covered by your policy before it ends. It's designed to help you and your loved ones meet day-to-day costs. It lets you focus on your own health and wellbeing.
When you apply for your policy, you’ll choose the size of the cash lump sum that will get paid out when a claim is made. You’ll also choose 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.
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The amount you pay each month depends on the length of your policy, and the size of the cash lump sum you choose to be paid out. The price might also change based on your age, health and lifestyle. You’ll pay a fixed amount each month until your policy ends.
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Both can help support your loved ones after your death, but there are some differences.
Life insurance covers you for a fixed period. It pays out a cash lump sum if you die before the policy ends. After the policy ends, it won't pay out when you die.
Life assurance usually covers you for your entire life. It's sometimes called 'whole of life cover'. It tends to cost more than life insurance.
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This kind of cover is also called ‘life assurance’. It pays out after your death and there's no policy end date. It covers you for your entire life. It tends to cost more than life insurance.
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This kind of insurance covers two people, but if only pays out once. So if one person dies before the policy ends, the money paid out will go to the other person. Then the cover will end.
Things to consider
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Some lenders might ask you to get life insurance when you apply for a mortgage. In any case, you should think about what's best for you and your loved ones. If you were to die, life insurance could help pay off your mortgage and allow your loved ones to keep your home.
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You can’t change your policy after it has started. So make sure the amount and duration are right for you before you take out a policy.
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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.
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Our cover calculator can help. Just answer a few questions about your loved ones, your home and your finances. Then find out how much cover might be right for you.
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Our Halifax protection experts are here to help find the cover that is right for you.
They'll give you advice on Scottish Widows life and/or critical illness policies.
They won't charge you for their advice and you do not need to take the product as a result of speaking to them.
Call:
Lines are open Monday to Thursday 9am - 7pm, Friday 9am - 6pm.
Lloyds Bank Insurance Services Limited provides this service, which is also part of Lloyds Banking Group.
Applying for cover
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This cover is available for both new and existing Halifax customers. You need to be between 18-59 and live in the UK to apply. Scottish Widows will ask a few questions about your health and lifestyle and then they'll let you know if they can help, instantly.
We can't give you advice or tell you what you should do. But the information we provide could help you choose cover that's right for you and your loved ones.
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To make it quick and easy to apply, Scottish Widows will only ask you a few essential questions about your health and lifestyle. You won’t need to have a medical check-up or send any extra info. Make sure your answers are true and complete. If anything you tell Scottish Widows is wrong, they might not be able to pay your claim.
Scottish Widows won't ask for a detailed medical history. So depending on your answers, it's possible they might not be able to offer you cover. They'll let you know where to get help or advice if this is the case.
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No, you just need to answer a few questions online. Then you'll find out how Scottish Widows can help, instantly.
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Scottish Widows will give you an instant decision. You won't need to wait for your application to be reviewed.
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If Scottish Widows can provide you with this policy, it'll start the same day you apply.
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This policy is arranged by Scottish Widows, who are a part of Lloyds Banking Group, like us.
They’re life insurance experts, and they’ve been protecting what matters most for over 200 years.
Claims and pay-outs
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We want to make sure it’s as easy as possible to make a claim. Your policy documents will explain how. To start a claim, just go to our existing customers page.
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The policy will only pay out when a claim is made. So for life insurance, it only pays out if you die while you're covered. For critical illness cover, it only pays out if you are diagnosed with an illness covered by your policy.
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No. Your policy only pays out if a claim needs to be made. If your policy ends without a claim, then your cover will end and you won’t get money back.
Make sure you pay each month on time, or your cover will stop and you’ll get nothing back.
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The cash lump sum your policy pays out is free from income and capital gains tax. It might be liable for inheritance tax (IHT). You can set up your policy to avoid IHT by writing it in trust. A solicitor can help you to do this.
Help with your policy
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To get new policy documents, just give Scottish Widows a call and they'll send new copies to you right away.
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To change the date your Direct Debits get collected, just give Scottish Widows a call.
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If you need to update your name, address or other details, just give Scottish Widows a call.
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You can’t change your policy after it has started. If you’d like to talk about your policy, just give Scottish Widow a call.
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If you want to make sure that the money your policy pays out goes to a specific person, you'll need to make a Will or put your policy in a trust.
Your Will
In your Will, you can choose who receives the money your policy pays out. You just need to update your Will, if you already have one. If you don’t have a Will yet, then a solicitor can help you set one up.
Trusts
Putting your policy in trust means that when it pays out, the money will quickly go to the people you want it to reach. It could also help avoid inheritance tax on the money paid out. A solicitor can help you set up a trust.
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We can't offer a payment break. When you choose your policy make sure you'll be able to pay on time each month. If you miss monthly payments, your cover will stop and you won't get anything back.
If you're worried about anything or if you’d like to talk about your policy, just give Scottish Widows a call.
Find the right phone number for your policy. -
You can cancel your policy at any time, free of charge. If you cancel within 30 days of its start date, Scottish Widows will refund any payments you've made.