How it works
Life insurance aims to protect your family from the financial consequences of you dying or being diagnosed with a Terminal Illness during the benefit term, by paying out a lump sum.
You can choose level or reducing life cover.
- Level Life Insurance - the amount you are insured for remains the same throughout the benefit term.
- Reducing Life Insurance - the amount decreases over the benefit term. This cover is usually chosen to protect a repayment mortgage, so that the amount of insurance decreases roughly in line with your remaining mortgage debt.
Simply Life Benefits
- Terminal Illness benefit is automatically included at no extra cost
- Straightforward, easy to understand life cover
- 100% decision when you call us
- Competitive rates
- Single life or joint life. (The joint life policy will pay out when the first person dies.)
- Your premiums are guaranteed. This means the amount you pay when you take out the benefit stays the same through the benefit term.
Points to remember
- If you stop paying your premiums, your life insurance will stop immediately.
- This type of life insurance only provides a lump sum on death or diagnosis of a terminal illness and has no cash in value at any time.
- If the information AEGON Scottish Equitable receive when you take out your policy is incomplete, incorrect or untrue, they may not pay your claim.
