Low-cost life cover with
essential features.
Low-cost cover. Essential features.
Until now, we’ve only offered Life Protection, our premier life cover with enhanced features. However, these days price is more important than ever for many customers. That’s why we’ve launched Life Essentials.
LIFE ESSENTIALS
Designed for different needs and budgets.
PROTECTION BUDGETS GO FURTHER
Choosing Life Essentials as part of our Protection Menu means more of your client’s budget is available for income protection or critical illness cover.
FIRST TIME BUYER FRIENDLY
Life Essentials is designed to be affordable for first-time buyers, opening the door to the protection conversation.
MORE SUITABLE FOR IHT PLANNING
Low-cost Life Essentials is more suitable for when life cover needs to be put in place to mitigate a future inheritance tax liability, and client’s don’t need all the enhanced features.
Product Comparison
Here’s a summary of how Life Protection and Life Essentials are different.
When your client’s priority is quality.
When your client’s priority is price.
When your client’s priority is quality.
TERMINAL ILLNESS DEFINITION
Pays out if a client is expected to survive for less
than 12 months.
Also pays out if they’re diagnosed with incurable stage 4 cancer, motor neurone disease, Creutzfeldt-Jakob disease or Parkinson-plus syndromes even if they’re expected to survive more than 12 months.
PREMIUM WAIVER
Included as standard with a 4-week deferred period. Premiums waived if the client is too ill to work.
Premiums also waived for up to 6 months for maternity/paternity leave or if they involuntarily lose their job.
EXCLUSIONS
No standard exclusions.
COVER TYPE
Level Cover, Increasing Cover, Decreasing Cover, and Family Income Benefit are all available.
Increasing Cover increases in line with the retail price index (RPI).
LIFESTYLE PROMISE
A client’s premium may be reduced if they were paying an increased amount due to their health or lifestyle and they subsequently: stop smoking, lose weight, change job, give up sports activities.
IMMEDIATE COVER
Temporary cover, of the same type applied for, and it starts as soon as you submit the application online.
Pays out a maximum of £1 million before we offer terms.
When your client’s priority is price.
TERMINAL ILLNESS DEFINITION
Pays out if a client is expected to survive for less
than 12 months.
PREMIUM WAIVER
Included as standard with a 26-week deferred period. Premiums waived if the client is too ill to work.
EXCLUSIONS
Doesn’t pay out if death is due to suicide or is a result of intentional self-inflicted injury in the first 12 months
of the cover.
COVER TYPE
Level Cover, Increasing Cover, and Decreasing Cover are available.
Increasing Cover increases in line with the consumer price index including owner occupiers’ housing cost (CPIH).
LIFESTYLE PROMISE
A client’s premium may be reduced if they were paying an increased amount due to smoking and they subsequently stop smoking.
IMMEDIATE COVER
Temporary cover, of the same type applied for, and it starts as soon as you submit the application online.
Pays out a maximum of £300,000 before we offer terms.
Product Comparison
Here’s all the great benefits which are available with both our Life Protection and Life Essentials covers.
When your client’s priority is quality.
When your client’s priority is price.
When your client’s priority is quality.
DUAL LIFE NOT JOINT LIFE
We don’t offer joint life policies. Instead, we offer a dual life approach where both partners’ cover is kept separate. That way if either partner dies the other partner’s cover remains in place. Our dual life approach still only requires a single quote, application and direct debit.
PREMIUM WAIVER
Premium Waiver comes as standard with every policy regardless of a client’s age, occupation or activities. So if we offer someone cover, they automatically get waiver.
The type of Premium Waiver differs depending on whether your client’s choose Life Protection or Life Essentials.
OPTIONAL CHILDREN’S CRITICAL ILLNESS COVER
Life Protection and Life Essentials policyholders can add Children’s Critical Illness Protection to their adult policy anytime. They can select any amount between £10,000 and £100,000, limited to the parent’s cover amount.
PAYOUT PLANNER
Payout Planner allows clients to nominate up to 9 beneficiaries when they apply. It’s simple. It’s quick. And it means we can promptly pay the people your clients wanted the money to go to without waiting for probate to be granted.
AVAILABLE ON MENU
Life Protection and Life Essentials are both available as part of our Protection Menu.
So, you can combine either or both, with all our other cover types to create a single policy that meets your client’s needs perfectly.
UNDERWRITING PHILOSOPHY
Life Protection and Life Essentials share our same underwriting philosophy. We do our best to offer the best terms to every client, regardless of the covers they chose. For a small number of pre-existing medical conditions (such as a history of breast or prostate cancer) we may offer different underwriting terms depending on if they apply for Life Protection or Life Essentials.
CLAIMS SERVICE
Life Protection and Life Essentials claimants will all experience the same bespoke claims service. We don’t ask for claim forms to be completed to make a claim; instead we take the information we need to start the process by phone. Every claimant is given a dedicated claims specialist who will deal with their claim from start to finish, and they have access to our unique claims service, HALO.
5 STAR SERVICE
Life Protection and Life Essentials both benefit from the same level of service; the best. And FT Adviser agrees. They’ve awarded us a 5-star service award 5 years in a row – every year since we launched.
