The life insurance packages available from Marks and Spencer include life cover and mortgage life cover. The Marks and Spencer life cover product provides a lump-sum payment to your dependents in the event of your death. The amount paid out will depend on the amount of cover purchased, and will remain fixed for the duration of the life insurance policy.
The Marks and Spencer mortgage life cover provides a payment upon your death specifically to repay the amount outstanding on your mortgage. This Marks and Spencer life insurance policy decreases in value over the life insurance term in line with the outstanding balance of your mortgage, and is designed to protect your dependents from being financially burdened with the expense if you were to die within the term.
Neither of the Marks and Spencer life insurance products carries a cash-in value, and both are worthless at the end of the term. To consider your options beyond Marks and Spencer and find life insurance policies that serve as investment vehicles or retirement funds, complete the form on this page. Totally Money will put you in contact with an independent life insurance expert for advice regarding the best life insurance policies available from UK providers to suit your budget and requirements.