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Protect your lifestyle

Life insurance is an easy, affordable way to ensure your loved ones could keep living the life they're used to if you were no longer around.

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Peace of mind against the unexpected

Could your family maintain their lifestyle if you couldn't work due to a critical illness, fell terminally ill or the worst happened? 

As you reach the big chapters in life – like buying a home, raising children and significant birthdays – it's important to ask these questions. 

Our life insurance can give you peace of mind now. Help protect your income so your loved ones will have some financial security in such difficult times. It's easy to set up.

Pay more each month and get an extra cash sum of 25% of your life cover cash sum if you're diagnosed with one of three critical illnesses covered that meets our definition.

You could get your life cover cash sum early if you're diagnosed with a terminal illness that meets our definition.

 

With Post Office Money Life Insurance:

  • You can pay from just £7 per month or pay more and get up to £500,000 of cover*
  • There's a choice of Level, Decreasing and Increasing cover to suit your needs
  • Pay more each month to add Critical Illness Benefit to your policy – an extra cash sum of 25% of your life cover cash sum if you're diagnosed, during the term of your policy, with one of the three of the critical illness covered that meets our definition
  • We'll only ask questions essential for your quote, for an instant decision

We'll make it easy for your family to claim if that difficult time comes. And we even provide one‑to‑one support at no extra cost if you or they are bereaved, or you’re diagnosed with a serious illness.**

Help protect your lifestyle with Critical Illness Benefit

If you were diagnosed with a critical illness, your mortgage and other household bills would still need to be paid. Our Critical Illness Benefit could help ease the financial burden on you and your loved ones at a difficult time, when you may not be able to work. Pay more each month and get an extra cash sum the equivalent of 25% of your life cover cash sum if you're diagnosed with one of the three critical illnesses covered that meets our definition.

Find out more

How much life insurance do I need?

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What do you need to decide?

Think about who you'd want to benefit from the money after you're gone. It might be your children or partner. But it could also be a parent, sibling or friend. 

Consider the level of cover they'd need to keep living the lifestyle they're used to if you died. And how long you'll need that cover in place for. All of this will help you find the right protection.

Get some help

Protect what matters in minutes, like your loved ones and lifestyle, in case the unexpected happens.

Did you know?

Average household spending in 2016 was £529 a week, or over £27,000 a year. 

Some common questions

What is life insurance?

It's a way to give you some reassurance and your loved ones some extra financial security if you die. It can also provide some financial comfort at a difficult time if you're diagnosed with a terminal illness that meets our definition as per the Terms and Conditions.

It's not all that different from other types of insurance. If you insure a car or a house, you pay an agreed amount or 'premium' each month. The insurance company pays if it gets stolen, damaged or destroyed. 

With life insurance, the insurer pays out if you die within the term of the policy. You won’t be around to receive the money yourself, but you'll be able to leave it to your family or loved ones. 

It also includes a terminal illness benefit. So, if you're diagnosed with a terminal illness, that meets the definition, we'll pay the cash sum early, which could remove financial worries at a difficult time.

 

How does Post Office Money Life Insurance work?

Post Office Money Life Insurance is a life assurance policy that pays an amount of money (cash sum) if, during your chosen policy term, you die or are diagnosed with a terminal illness that meets the definition, as per the Terms and Conditions. 

If we pay your cash sum your policy will end. If you're still alive at the end of your policy term and haven't been diagnosed with a terminal illness, your policy will end and you won't receive a pay-out.

 

What classes as a terminal illness?

A definite diagnosis by the Attending Consultant of an illness that satisfies both of the following:

  • The illness either has no known cure or has progressed to the point where it cannot be cured; and
  • In the opinion of the Attending Consultant, the illness is expected to lead to death within 18 months.

An attending consultant is someone who holds an appointment as a consultant or equivalent at a hospital in the UK or holds a comparable qualification outside the UK, is accepted by our Chief Medical Officer and is a specialist appropriate to the cause of the claim.

How does someone claim on my policy?

Losing a loved one is a difficult time. The last thing those you leave behind need is a drawn out claims process. When the time comes, we'll make it easy for your personal representatives to claim the cash sum from your policy.

If you've recently lost someone and need to claim, you can find all of the information you need here.

What is Critical Illness Benefit?

It pays a cash sum if you suffer from heart attacks, strokes (depending on the severity) or certain types of cancers that meet our definition, during the term of your Life Insurance policy.

At such a difficult time, it can ease financial pressures on you, your family or your partner – like helping pay for a mortgage, rent, everyday living costs, even modifications needed to your home as a result of your illness.

Find out more about our Critical Illness Benefit

Still have questions about life insurance? Visit our help page

Things you need to know

* Montly payments depend on the amount, length, type of cover and your personal circumstances.

** This service is not part of the Post Office Money Life Insurance contract and can be withdrawn at any time.

† Source: Office for National Statistics, Family Spending Report, 2016. 

Post Office Money Life Insurance is provided by The Royal London Mutual Insurance Society Limited.  

Post Office Money Life Insurance offers up to £500,000 cover for customers who are UK residents aged 18-70 at the start of the policy. The minimum term is 5 years and cover must end before your 81st birthday.

We won’t pay a claim on death if it was as a result of suicide or intentional self-inflicted injury within 12 months of the start date of your policy.

We won’t pay a claim on terminal illness if you don’t meet our definition of terminal illness; or terminal illness is caused by intentional self-inflicted injury within 12 months of the start date of your policy. 

The Critical Illness Benefit is an additional option to Post Office Money Life Insurance, and Post Office Money Life Insurance Terms and Conditions apply. Find out more

Critical Illness Benefit can pay an extra cash sum if you are diagnosed, during the term of your policy, with one of the three critical illnesses covered that meets our definition and then survive for at least 10 days after. 

If your Post Office Money Life Insurance policy ends, your Critical Illness Benefit ends and you cannot make a claim. 

If you’re choosing to add Critical Illness Benefit to meet a specific financial commitment, you need to be comfortable that the extra cash sum meets your needs.  We cannot provide you financial advice, but you can find a financial advisor at unbiased.co.uk.

We won’t pay a claim if you don’t keep your payments up to date as you will no longer be covered under the policy. Or if you don’t tell us something or give us an incorrect answers to our application questions that affects your cover we may reduce the amount we pay for a claim or at worst cancel your cover and not refund your monthly payments. If you’re a UK resident aged between 18 and 70, excluding members of the Armed Forces, Army Reserve (previously known as the TA) or Reservists, you can apply. Please see Terms and Conditions for further details about the restrictions that apply.

 

 

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