Protection for Life: Critical Illness with Life Cover
Critical Illness with Life Cover in detail
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Critical Illness with Life Cover is one of the benefits under our Protection for Life Plan. It can provide a cash sum to help you and your family if you were to die, be diagnosed with a terminal illness or specified critical illness within the policy term.
Features & benefits
- With Protection for Life there's a monthly fee associated with each benefit, however if you take out more than one benefit we'll only charge the fee on one of them.
- Once you have got your policy you can apply to change the following during the term of your policy:
- The level of your cover (increases in sum assured may be subject to further underwriting)
- The term of your cover (increases in term may be subject to further underwriting)
- Your policy can pay out the benefit amount as a cash sum if, during the policy term,
- you die,
- you are diagnosed with a terminal illness, or
- you are diagnosed with a critical illness that meets definitions as outlined within our policy provisions
- If you select a single cash sum, the “benefit amount” can be level, increasing or decreasing over the policy term
- If you select a monthly cash sum, these can be payable on a level or increasing basis
- The premiums you pay for this benefit are reviewable every five years and can change. Please read the Critical Illness with Life Cover Key Features for further information.
- You can apply to change the level of cover once the policy is set up, add a partner or change the policy term
- You can choose to have a single person or joint person plan
- Children’s Critical Illness Cover is automatically included
- Children's Life Cover is automatically included
- You can choose to put the policy in trust
- You receive access to the Best Doctors service
- You must be a UK resident (meaning England, Wales, Scotland, Northern Ireland but not the Isle of Man or the Channel Islands)
- You must have a UK bank account
- Minimum age at start 18
- Maximum age at start 64
- To pay monthly premiums for this benefit by Direct Debit until the end of its term. Further details are provided in the quotation. These premiums are reviewable.
- To answer all questions in the application honestly and fully. We may not pay any claim, have to amend the terms of your cover or at worst cancel your cover if you:
- don’t answer the questions honestly
- give us incomplete or misleading answers, or
- do not advise us of a change in the information you provided in response to our questions prior to the date we have agreed the terms of your cover.
We will have agreed the terms once we have your signed confirmation that all your application answers are true and complete and we have written to you after that confirming our terms.
The complete list of critical illnesses we cover are listed in the key features. You can find the full definitions of these conditions and the circumstances in which you can claim in the policy provisions.
If you are visiting our site to find out what Critical Illnesses your policy covers you for, please be aware that the Critical Illnesses listed in these documents only apply to policies which are being taken out now. If your policy is already in force, please contact us on 0345 7166 777 for a copy of the documentation that applies to your policy.
Children’s Critical Illness Cover and Children's Life Cover
If you choose Critical Illness with Life Cover, children’s critical illness cover and children's life cover are automatically included. For further information please see the Critical Illness with Life Cover Key Features.
Our claims history
No matter what benefits are included in your Protection for Life plan, making a claim on your plan should be as straightforward as possible, especially as it will be at a difficult time.
Life Cover claims
We paid out over £128.9 million in Life Cover claims in 2016.
Facts about Life Cover claims
The four main reasons for a Life Cover claim were:
- Heart related
Average age of life assured at claim stage was 60 years
Average term of policy at claim was 8.8 years
Source: Scottish Widows, based on the number of life cover claims paid out by Scottish Widows between January 2016 to December 2016.
Critical Illness claims
We paid out over £82.6 million in Critical Illness claims in 2016.
Facts about Critical Illness claims
The four main reasons for a Critical Illness claim were:
- Heart related
- Multiple Sclerosis
Average age of the life assured at claim stage was 50 years.
Average term of policy at claim 4.7 years.
Source: Scottish Widows, based on the number of critical illness claims paid out by Scottish Widows between January 2016 to December 2016.
- The policy has no cash-in value at any time.
- If you don’t pay your premiums on time your cover will stop, your benefit will end and you’ll get nothing back.
- The policy will end if we pay out the benefit amount but if the benefit amount has not been paid out by the end of the selected term, the policy will end and you’ll get nothing back.
- If the benefit is to cover a repayment mortgage, we will decrease the benefit amount each month assuming a fixed rate of interest of 10% a year. There may be insufficient funds to repay the loan if the interest rate on the mortgage exceeds 10% or the loan is increased or extended.
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