LIFE COVER: PROTECT WHAT’S IMPORTANT
You never know what life has in store, so you will want to know that your family are financially protected should something happen to you. Life cover can provide a safety net by helping to pay off a mortgage, for example, allowing you to keep your family home.
- Life cover can pay out a cash sum if you die during the term of the policy.
- You have a number of cover options, including decreasing cover, which can help pay off a repayment mortgage, or level cover, to help with an interest-only mortgage.
- You can also consider critical illness cover, which means you would be covered if you are diagnosed with a critical illness that is covered by your policy.
- Life insurance can also give you more than just financial protection, with access to practical and emotional support at a time when you might need it most. If you choose life insurance from Scottish Widows, this is available through Scottish Widows Care.
THE IMPORTANCE OF LIFE COVER
The reason for taking out life insurance is to provide for you and your family if the unexpected should happen. This is never more evident than when you have to make a claim.
In 2021, we paid out £132 million in life cover claims, helping over 9,000 families. We paid out 99% of claims, 29% of these for cancer.