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ActiveQuote Global Reach, Dunleavey Drive Cardiff South Wales CF11 0SN 0800 862 0373

Scottish Widows Life Insurance | ActiveQuote

Scottish-based life insurance provider Scottish Widows provides three major life insurance products. Each product has its own features and benefits, which we list and review below.

Types of Scottish Widows Life Insurance

Scottish Widows life insurance has three products, which are as follows:

  • Life Cover
  • Critical illness with life cover

Each of these packages pays out a cash lump sum. To qualify, you must be aged between 18 and 74, have a UK bank account, and be a UK resident (excluding the Isle of Man or the Channel Islands). Premiums must be paid until age 90, and no cash-in value is available at any time.

Scottish Widows Life Insurance Life Cover

Life cover pays out a cash sum when an insured party is diagnosed with a terminal illness or dies. There is no family benefit option. Various cover options are available, including decreasing cover for paying off mortgages, as well as level cover. Decreasing cover is where the pay-out falls year on year in line with an insured party’s mortgage payments. Level cover, though, is where the payout and monthly premiums remain static, but will never increase in line with inflation.

Critical Illness with Life Cover

An option for an insured party is to combine life cover with critical illness. Critical illness life cover matches the same terms and options as normal life cover, except you will be covered should you die or if you are diagnosed with a critical or terminal illness during the policy terms.

Other Benefits

Anyone subscribed to a Scottish Widows life insurance policy will be automatically enrolled on the Best Doctors independent service, which gives professional, additional advice and information if an insured party is diagnosed with a serious medical condition. This gives an insured family the opportunity to have a second opinion. There’s a total of 53,000 peer-selected doctors on that database.

Scottish Widows Insurance Review and Results

As of 2018, Scottish Widows boasted the following results:

  • Paid out 99.3% of life claims
  • The total amount paid out was just under £136 million
  • The average claim of £43,221