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Life insurance

Protect the ones you love with life insurance from Scottish Widows.

Father and son gardening.
 
A woman drinking coffee.

What is life insurance?

Life insurance can help give your family financial protection if you pass away during the term of your policy.

It can pay out a lump sum of money to help those you love to maintain their standard of living and keep paying the bills.

To be eligible for life insurance, you need to be a UK resident and be 18 years of age or older.

How does life insurance work?

What does it cover:

  • Your loved ones will receive a cash lump sum if you pass away before your policy ends.
  • You can cancel at any time, free of charge.
  • You select the amount and the duration.

Things you need to know:

  • You will not receive any money back unless a successful claim is made.
  • You can't make changes to your policy after it has started.
  • You must continue to make your monthly payments to keep your policy.

  • Life insurance might be right for you if:

    • you have children or loved ones who rely on your income
    • you have other dependants who might struggle to get by without you
    • you’re the main earner in your family
    • you have long-term debts, like a mortgage
    • you’d like to leave something for your loved ones after you die.

  • It’s best to think about the type of help your loved ones would need, if you can't be there for them. This could be things like:

    • help with the cost of living
    • removing the pressures of financial debt, such as a mortgage
    • having a financial safety net for the future.

  • Our policies allow you to choose the cover amount that suits you and your loved ones. Try our life insurance calculator to help decide how much you’d want to leave behind. 

    Cover calculator

     

  • It might help to think about life’s milestones, like the number of years until:

    • your children turn 18
    • your mortgage is paid off
    • you reach state pension age.

    You can get cover from 5 to 40 years, up to age 69.

     

Download our policy guides:

Life insurance policy summary (PDF 673 KB)

Life insurance terms and conditions (PDF 641 KB)

What’s the right time to get life insurance?

When life changes, you have an excellent chance to think about how you can protect your loved ones from unexpected circumstances.

Changing jobs

Changes to your income could impact the level of cover you and your family need if the worst was to happen.

Growing your family

When your family grows, the need to protect them can change. This could be a good time to make sure they are in the best possible position if anything were to happen to you.

Buying your home

When buying your home, you may want to protect it. This could allow your loved ones to pay off the mortgage and stay in their home.

Getting married

This can be a good time to think about how cover could help to protect your partner in case of the unexpected.
 

Divorce/separation

Getting a divorce or separating is a significant life change and it can impact your financial situation and responsibilities.
 

Becoming a carer

There might be others who rely on you or your income. Your cover could protect them too.

What type of life insurance do I need?

There are different types of life insurance policies available. We offer a level cover, life insurance policy online. Here's how it works:

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How does level cover work?

Level cover means that the cash pay-out stays the same until your policy ends, so you'll pay the same amount each month.

What’s the benefit of level cover?

With level cover, you and your loved will always know how much cover you’ll have if the worst was to happen. This is because if a successful claim is made the amount won't change.

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What is mortgage protection?

This type of insurance ensures that your family can carry on living in their home, even during tough times.

It pays out a cash lump sum if you die before the policy ends. So it could help your loved ones pay off the mortgage if something happens to you.

 

Find out more about mortgage protection 

How much cover do I need?

We’ll help you work out how much cover could be right for you.

Calculate my cover Calculate my cover.
 
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How much does life insurance cost

How much cover you need, your age, and other factors such as your health history, determine the cost of life insurance. Premiums start from £5 per month*. You can get a quote online to get a more accurate idea of how much your cover could cost you.

If you have a history of smoking, this can also increase your life insurance costs, as the risk of death is greater. Lifestyle factors such as dangerous jobs and hazardous hobbies are also taken into consideration.

If you decide to add Critical Illness Cover to your life insurance policy when you apply, this will be for an extra cost.

*7% of Lloyds Bank customers paid £5 per month for Plan and Protect life insurance bought online between 01 June 23 and 31 May 24. Price is based on single level life insurance, excluding critical illness cover, and is subject to underwriting criteria that depends on personal circumstances. Prices are subject to change.

Get covered today

This table below shows what the price might be, based on your age group. It shows how the monthly cost you pay for life insurance can be lower if you take it out sooner.

Age

18-25

26-50

51-59

Example monthly cost of life insurance

£8

£14

£21

50% of our customers paid these prices or less for single level Plan and Protect life insurance bought online between 31 January 23 and 31 January 24.

Note, the sample size for 18-25 life is 441.

Prices are subject to underwriting criteria that depend on personal circumstances and are subject to change.

Age

Example monthly cost of life insurance

Age

18-25

Example monthly cost of life insurance

£8

Age

26-50

Example monthly cost of life insurance

£14

Age

51-59

Example monthly cost of life insurance

£21

50% of our customers paid these prices or less for single level Plan and Protect life insurance bought online between 31 January 23 and 31 January 24.

Note, the sample size for 18-25 life is 441.

Prices are subject to underwriting criteria that depend on personal circumstances and are subject to change.

Ready to get a quote?

Get a quote and decision in under 10 minutes. Simply log on to the Mobile Banking app or Internet Banking. Search for ‘life insurance’ or find it in the product menu to start.

Get your quote now Get your quote now.
 

Want to speak to someone?

Our Lloyds Bank protection experts are here to help find the cover that is right for you.

They'll give you advice on Scottish Widows life insurance 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: 0800 131 0552

Lines are open Monday to Thursday 9am -7pm, Friday 9am - 6pm.

Or request a call-back at a time that suits you.

Lloyds Bank Insurance Services Limited provides this service, which is also part of Lloyds Banking Group.

Request a call-back

Get protected by experts

Scottish Widows provide our life insurance policies. They're a part of Lloyds Banking Group, like us. Scottish Widows are experts, and they've been protecting what matters most for over 200 years.

Here are a few reasons why they could be the right choice to protect you and your loved ones:

An image of the Scottish Widows logo.

98% of claims paid out

Scottish Widows paid out 98% of claims in 2023. That’s £243 million in total.

Support when you need it

Scottish Widows works closely with partners like Macmillan Cancer support.

Over 200 years of experience

Scottish Widows has been protecting customers for over 200 years. So, you’re in safe hands.

Scottish Widows life insurance products have no cash-in value at any time. So if the policy ends without a claim, you won't get any money back. If you don't make payments on time, your cover will stop, your policy will end and you'll get nothing back.

 

 

Critical illness cover

If you were diagnosed with a critical illness, you might not be able to work.

Critical illness cover could pay you a cash lump sum to help you and your loved ones to keep up with day-to-day costs and let you focus on your own health and wellbeing.

When you apply for life insurance, you can add critical illness cover. They’re separate policies and cover you for different things, but you can buy them together.

Find out more about critical illness cover

Existing customer support

Do you need help with your existing policy?

If you already have an existing life insurance policy and need further support, such as:

  • how to update my details
  • selecting who the money will go to
  • changing payment date.
     
Help for existing customers Help for existing customers.

Do you need to make a life insurance claim?

Scottish Widows will make every effort to make sure that they handle your claim quickly and smoothly.

Here’s how we can support.

 What you’ll need to make a claim:

  • How you can contact us.
  • What you will need to send.
  • Further help and support.
Make a life insurance claim Make a life insurance claim.

Your questions answered


  • Life insurance could pay 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 select the size of the cash lump sum that will get paid out when a claim is made. You’ll also select 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.
     

  • Scottish Widows is here to support you, even if you have a pre-existing condition. If they can't give you a policy, they'll let you know how to get more help or advice.

  • If you’d like advice, contact our Lloyds Bank protection experts. They can help find cover that’s right for you and your loved ones.

    They'll give you advice on Scottish Widows life insurance 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:

    0800 131 0552

    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.

  • How much cover you need, your age, and other factors such as your health history determine the cost of life insurance.

    If you have a history of smoking, this can also increase your life insurance costs as the risk of death is greater. Lifestyle factors such as dangerous jobs and hazardous hobbies are also taken into consideration.

  • No, your policy will only pay out if a successful claim needs to be made. If your policy runs out without a claim, your cover will terminate, and you won’t receive any money back.

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