FAQs

Some of your questions answered

If you have any questions that aren’t answered here, please don’t hesitate to call us on 0845 608 0388*.

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Who can apply for Protection for Life?

To take out any of our Protection for Life policies, you need to be resident in the UK (meaning England, Wales, Scotland, Northern Ireland but not the Isle of Man or the Channel Islands) and have a UK bank account The table below shows the age restrictions for each type of cover and the basis on which these covers can be set up:

Benefit	Critical Illness with Life Cover	Life Cover	Lifetime Cover
Minimum age at start	18 (19 next birthday)	18 (19 next birthday)	18 (19 next birthday)
Maximum age at start	64 (65 next birthday) (level basis) 64 (65 next birthday) (decreasing basis)	68 (69 next birthday) (level basis) 64 (65 next birthday) (decreasing basis)	74 (75 next birthday)
Ownership¹	Single ownership, Joint ownership	Single ownership, Joint ownership	Single ownership, Joint ownership³
Benefit paid out²	Lump Sum Monthly	Lump Sum Monthly	Lump sum

Remember you can also choose to put Life Cover, Critical Illness with Life Cover or Lifetime Cover in trust. To find out more, see our section on Trusts.
Critical Illness with Life Cover and Life Cover are only available as a monthly payment on level and increasing benefits and if taken at the outset.
Joint ownership is not available for sums assured of £15,000 or less

Can I take out benefits with my partner?

Yes. With a two person plan, each of you applies for individual benefits under one Protection for Life plan. There is one direct debit, one plan fee and the flexibility to change your plan or your benefits as your needs change. You can also choose to jointly own each other’s policies.

What will happen to my life cover if I make a critical illness claim on my Critical Illness with Life Cover policy?

If you’re diagnosed with a defined critical illness, we’ll pay the amount to you if you’re the policy owner or to you and your partner if you are joint policy owners.
We’ll only pay out once under Critical Illness with Life Cover, so if you claim for a critical illness, the policy will end.

If I have a Critical Illness with Life Cover policy, what happens if I die?

If you die, we’ll pay out the life cover amount to your chosen beneficiaries if it’s written in trust. If it’s not written in trust, we will pay out the life cover amount to your estate.
If you’ve chosen to apply for a two person plan and have chosen joint ownership, the benefit will be paid to the surviving policy owner.

Can I choose when to start my policy? (hide)

Yes. When you apply you can:

start it as soon as possible
choose ‘Not known yet’ (if you are unsure when you would like your policy to start)
give a specific date

If you’ve applied for more than one benefit, you can choose different start dates for each one.

Do I get any money back if the policy reaches the end of its term and I haven’t made a claim?

No. The policy has no cash-in value at any time. Also, if you don’t pay your premiums on time your cover will stop, your benefit will end and you’ll get nothing back.

Can I choose who gets the payout?

Yes, by writing your policy under an appropriate trust for the benefit of anyone you specify. We’ll automatically issue you a trust form with your policy documents.
Find out more about putting your policy in trust.

What is the Annual Plan Summary? (hide)

This is a statement showing the benefits you’ve chosen, the premiums you’re paying and any changes you’ve made to your plan. It’s worth considering your protection needs and making any changes to your Protection for Life plan at this time, too. We’ll also send you one of these statements when you make changes to your plan or benefits.

Why do you charge different premiums for men and women of the same age?

Based on life expectancy and the incidence rates of critical illnesses, the probability of a male life making a claim under a policy is different to that of a female life. This is reflected in the differing cost of insurance for men and women.

Have we answered all your questions?

We hope that you’ve found this summary of frequently asked questions helpful. If you’d like to know more about Protection for Life or about any specific benefits, please contact us. And for useful healthcare information, go to www.drfoster.co.uk

Trusts