Our Buying guide will help you choose the right Life Cover Policy.
Life Cover policies pay out a cash sum if you die during the cover period. They may be suitable for people who have financial dependants, like partners or children, or if you have outstanding debts like a mortgage.
Some Life Cover policies - like John Lewis Life Cover - will pay out before you die if you suffer a terminal illness before the end of the cover period, where death is expected within 12 months.
Life Cover will pay a one-off cash sum, or annual benefit if family income benefit is selected, if you die or suffer a terminal illness during the cover period.
You can choose from a selection of cover options, including:
- Level Term Cover: The cash sum remains the same throughout the cover period.
- Mortgage Protection Term Cover: The cash sum reduces over time and is often linked to a repayment mortgage.
How much Life Cover should I get?
If you were to die suddenly, it’s a good idea to work out how much money would be needed to:
- cover your mortgage
- keep your family comfortable
- pay off any other debts and expenses.
You'll also need to think about how long you want your policy to run - for example, do you want it to last until you retire, to the end of your mortgage or until your children reach a certain age?
What do I have to tell insurers before I take out a policy?
The most important thing when getting a quote, buying Life Cover or making a claim is to answer all questions truthfully, accurately and completely to the best of your knowledge.
Insurers will ask you questions about your personal and family medical history, as well as your lifestyle. A claim may not be paid if you haven’t answered all the questions truthfully, accurately and completely when applying for your plan or making a claim.
Where the cover is on the life of one person, the proceeds of the claim will be paid to the personal representatives of the deceased's estate. Where the cover is on the lives of two people, it will be paid to the survivor.
Should the policy be assigned or written in trust then the proceeds are payable in accordance with the provisions of that assignment or trust.
Please be aware that although we can talk through the different options with you, we can't give you financial advice. A professional financial adviser can help you decide whether a life cover plan is suitable for you. You may have to pay for this advice.
Terms, conditions, limitations, exclusions and eligibility criteria apply.
John Lewis Life Cover is provided by Friends Life and Pensions Limited - please read Important information (PDF). Once your policy begins you may receive documents and correspondence from Friends Life. These will always be relevant to your application or policy and will never be unsolicited.