One of the UK’s leading life insurance providers, Scottish Widows offers a Protection for Life policy that allows you to find the right option for your lifestyle, and offers the flexibility to cope with all of life’s changes such as getting married or having children.
The Scottish Widows Life Cover plan is their basic cover option, providing a cash payout in the event of your death or diagnosis with a terminal illness within the agreed term. The term can be selected to match important events in your life, such as when you retire, or when your dependent children graduate from university. Critical illness cover can be added to this policy to provide financial assistance should you be diagnosed with a predetermined condition.
Life insurance with Scottish Widows is available in three ways; as level cover, decreasing cover, or increasing cover. Level cover guarantees a certain payout in the event of making a claim, and is usually linked to substituting for your expected salary, in order that your family will be provided for after your death. Decreasing cover loses its value over the life of the term, and is usually linked with your mortgage, so that if you should die within the term the amount paid out would cover your outstanding mortgage amount. Increasing cover automatically rises in line with the Retail Price Index, to ensure that standard inflation does not decrease the worth of your payout over the duration of the term.
Scottish Widow life insurance does not carry a cash-in value; to compare your options with Scottish Widow against those policies that serve as investment and savings vehicles complete the form on this page. Totally Money will put you in touch with an independent personal finance expert for free, no-obligation advice on the best policies available for your requirements for the best price.