Make sure you have all the information you need
Some of your questions answered
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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.
There are also some age restrictions as shown in the table:
| Life Cover | Critical Illness with Life Cover | Lifetime Cover | |
|---|---|---|---|
| Min age to start benefit | 18 (19 next birthday) | 18 (19 next birthday) | 18 (19 next birthday) |
| Max age to start benefit | 68 (69 next birthday)(level basis) 64 (65 next birthday)(decreasing basis) |
64 (65 next birthday)(level basis) 64 (65 next birthday)(decreasing basis) |
74 (75 next birthday) |
| Max age when this benefit will end | 69 (70 next birthday) | 69 (70 next birthday) | On death |
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?
We will 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 will pay out the life cover amount to your chosen beneficiaries if it is written in trust.
- If you have chosen to apply for a two person plan and have chosen joint ownership the benefit will be paid to the surviving policy owner.
- If you are diagnosed with a defined critical illness we will pay the amount to you if you are the policy owner or to you and your partner if you are joint policy owners.
Can I choose when to start my policy?
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 have 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 will automatically issue you a trust form with your policy documents.
What is the Annual Plan Summary?
This is a statement showing the benefits you have chosen, the premiums you are paying, and any changes you have 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.
Have we answered all your questions?
For useful healthcare information go to www.drfoster.co.uk
