-

Barclays Life Insurance for Mortgage Holders

Making sure your home is protected

Whether you’re a first-time buyer or have a few years left on your mortgage, make sure your home is protected if you die or become terminally or critically ill. With Barclays Life Insurance for Mortgage Holders, you'll get a one-time lump sum to pay your outstanding mortgage if a successful claim is made. Cover starts from £6 a month.

How it works

Owning your own home can offer stability and security for you and your family. It’s also one of the biggest financial commitments you’ll make – and getting life insurance is a simple way to make sure it’s protected if you die or become terminally or critically ill. Here's how our Life Insurance for Mortgage Holders works.

Before you get your policy

Look at your options. We’re here to help you find out if our life insurance is right for you.

Visit a branch and speak to a mortgage adviser, or call us on 0333 202 7580 1 option 3, Monday to Friday 8am to 9pm, Saturday 9am to 5pm and Sunday 9am to 3.30pm

For an in-depth look, read the Life Insurance for Mortgage Holders Product Summary2

We've explained some common terms and concepts relating to life insurance.

Getting your policy

Get support. Our mortgage advisers can help you to tailor your policy to suit you, including getting a quick quote, applying and buying. They can also help you to find life insurance that will cover your needs – and help you work out whether you need

  • Single or joint cover
  • Life Insurance or Life Insurance with Critical Illness Insurance
  • Decreasing-term cover or level-term cover

After you get your policy

Whatever happens next, we’re here to help. You can

  • Make changes to your cover if your circumstances change3, or get an additional policy
  • Cancel your policy3, before the end of term or before you make a claim
  • Submit a terminal illness claim
  • Submit a critical illness claim
  • Consider getting a new policy after this one ends

Or, your loved ones can

  • Submit a claim if you die before the end of your policy

Things you should know

What’s covered

Death: You’ll be covered if you die before the end of your policy. We’ll also cover you if you die between exchanging contracts and completing your property purchase – up to a maximum of 90 days4

Terminal illness: If you’re diagnosed with a terminal illness and you’re expected to die within 12 months, the policy will pay out at no extra cost. We’ll need verification from your hospital and our medical team

Critical illness: If your policy includes Critical Illness Cover, we will pay out if you're diagnosed with a critical illness that meets our definition5

One-time payment: We’ll only pay the amount of cover once. On a joint policy, this will be when the first person either dies or has a valid claim. After this happens, the policy will end and you’ll no longer have any cover

What isn't covered

Incorrect information: If you don't answer our questions honestly and in full before your policy starts, we won’t pay out

Suicide: If, within the first year of the policy, you die and your death is caused by suicide or intentional and serious self-injury, you won’t be covered

Critical illnesses: We won't pay out your amount of cover if the policy includes Critical Illness Cover and you’re diagnosed with a critical illness that doesn't meet our definition5

Joint policy: We’ll only pay the amount of cover once. This will be when the first person dies or has a valid claim

Don't have a mortgage?

Have you looked into Barclays Simple Life Insurance? It's quick, straightforward and could help you protect your loved ones if you die or become terminally ill.

Summary of key information

  • Policy details

    • You’ll need to choose your own amount of cover and term – if you’re not sure about how much cover you need, our mortgage advisers can help
    • Life insurance policies have no cash value and we won’t pay out if you reach the end of the policy without making a valid claim
    • We won't pay out your amount of cover if you’re diagnosed with a terminal illness that doesn't meet our definition
    • If you get Critical Illness Cover, we won't pay out your amount of cover if you’re diagnosed with a critical illness that doesn't meet our definition
    • We may restrict some elements of cover based on the information you give us. If we do, we’ll tell you what we’ve excluded in the Policy Schedule
    • If you stop paying your premiums, your cover will end 30 days after the first missed payment
    • If you select level-term insurance, your premiums and amount of cover will remain the same during the length of the policy, unless you make any changes. If you select decreasing-term life insurance, your premiums will remain the same, but the amount of cover reduces roughly in-line with the way a repayment mortgage decreases
    • You can make certain changes to your cover without the need for further medical reassessment or application. You can do this up to three times while your policy is active, and you must meet certain conditions and limits
    • If the policy is to help repay a mortgage or linked to any other financial product, you need to make sure that your amount of cover matches your outstanding balance. You also need to make sure you update your policy if your financial circumstances change – it won’t happen automatically
    • You can cancel your policy at any point throughout the policy lifetime. If you cancel within 30 days from the start of the policy, we'll return any payments you’ve made. If you cancel after 30 days, you won't get any payments back and future payments will stop from that point
    • Additional benefits include accidental death benefit, free life cover, and hospitalisation benefit
    • Exclusions and other relevant information can be found in the Policy Summary
  • Limits

    Age

    Life Insurance

    • The minimum age for buying a policy is 18
    • The maximum age for buying a policy is 74
    • The maximum end age is 90 (this is your age when the policy starts plus policy duration)

    Life Insurance with Critical Illness

    • The minimum age for buying a policy is 18
    • The maximum age for buying a policy is 64
    • The maximum end age is 70 (this is your age when the policy starts plus policy duration)

    Duration

    Life Insurance

    • The minimum duration is 5 years
    • The maximum duration is 50 years

    Life Insurance with Critical Illness

    • The minimum duration is 5 years
    • The maximum duration is 40 years

Get in touch

In branch

Visit a branch and have a chat with one of our mortgage advisers.

Call us

Call us on 0333 202 7580 1, option 3. Monday to Friday 8am to 9pm, Saturday 9am to 5pm and Sunday 9am to 3.30pm.