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Barclays Simple Life Insurance

Protecting life after yours

Have you thought about what would happen to your loved ones if you died or became terminally ill? With Barclays Simple Life Insurance, you can give them some financial security with a one-time lump sum – from £6 per month.

Why get life insurance?

Leave a legacy

Insuring your life means that you can still be a part of your loved one’s future – even if you’re not here. Whether it’s paying for university fees or making sure the mortgage can be covered, you can still support them if you die.

Support during tough times

Losing someone is difficult, emotional and stressful. Making sure your loved ones could pay any debts or expenses and carry on their everyday life means they'd have a little less to worry about.

It’s your life

Life insurance isn’t just about other people’s lives – it’s about yours, too. As well as the comfort of knowing your loved ones are protected, there’s also the comfort of knowing that if you become terminally ill, you’re also protected.

Affordable payments

You’re in control of how much cover you want to leave, how long you want to be covered for and, if your circumstances change, it’s easy to change your policy. Just start with what you can afford.

How it works

Buying life insurance is easier than you might think. All you need is a little bit of research and the right support – and we’re here to help you through every stage of the process.

Getting your policy

Once you’ve decided which policy is right for you, you can get a quote, apply and buy. Here’s how it works.

Step 1  – Quick quote 
Answer four questions to get an initial price – you can adjust the cover amount, monthly cost or duration until you get a quote to fit your needs.

Step 2 – Application
We'll ask you for details about yourself so that we can complete your application.

Step 3 – Decision and buy
You’ll get a decision along with your final monthly price (in most cases it’s immediate). If you’re happy, you can buy it.

After you get your policy

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

  • Amend your cover if your circumstances change2, or get an additional policy
  • Cancel your policy, before the end of term or before you make a claim2
  • Submit a terminal 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

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

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

Six reasons to choose our life insurance

  • It’s level-term, which means your cover stays the same throughout the life of your policy 
  • You’ll always know where you are – your monthly payments will stay the same for the life of the policy, unless you make any changes to your cover 
  • You choose how long you want to be covered – between 5 and 50 years (it must finish before your 90th birthday)
  • Your policy includes Terminal Illness Benefit at no extra cost, which means the full amount will be paid if you’re diagnosed with a terminal condition2
  • You can make some changes to your policy without having to go through further medical questions2
  • You’re in safe hands – our partner, Legal & General paid out 98.3% of life insurance claims in 2017  

For more details, please read the Guide to Barclays Simple Life Insurance1

Your tools

Cover calculator

Need help working out how much cover you’ll need? Try our cover calculator. You can get a cover amount in minutes and use it to get a quick quote. Adjust the cover, cost or duration until you get a quote to fit your needs.

Quick quote

We can give you a quick quote in minutes. If you’re happy with it, you can apply for a final price by answering a few more questions.

Have you got a mortgage?

Barclays Simple Life Insurance can help you to cover your remaining mortgage if you die or become terminally ill. But our Life Insurance for Mortgage Holders allows you to apply for a joint policy, choose a decreasing-term policy, or add Critical Illness Cover. Our mortgage advisers can help you understand your options and help you work out the best policy for your needs.

Life insurance myths explained

I’m young and healthy – life insurance is for older people

The younger you are when you apply, the less you’ll pay. If your circumstances change after getting your policy, you can change your cover amount without having to re-apply2.

I can’t get life insurance because I'm a smoker, overweight, unwell or unfit

You can still get life insurance if you're a smoker, overweight, unwell or unfit but it may affect the amount you have to pay each month. Only a very small number of people get turned down for life insurance.

Life insurance is too expensive

Cover starts from £6 per month. When you apply for a quick quote, you can adjust the cover amount or duration until you find an affordable cover to suit your needs.

I’m a stay-at-home parent so I don’t need life insurance

If you died, someone else would have to do the things you do. If your family and friends were unable to do them for free, life insurance would help to pay for someone else to do them.

I don't have children so I don't need life insurance

If you support someone (such as a partner, parents, siblings or friends) – with money or time – you can leave them a lump sum to help cover any costs they’d have to pay if you weren't there to help.

I already have a life insurance policy through work

While life insurance through work will help, it may not be enough to leave your loved ones financially secure – try our cover calculator to check. Also, don't forget that if you leave your job, you may not be covered.

I don’t need life insurance right now

While we all hope to die of old age, the reality is that nobody knows when we’re going die or if we’re going to get a terminal illness – life insurance makes sure your loved ones are financially protected if the unexpected happens.

The application process takes too long

Our process is simple. It generally takes 20 minutes from getting a quote to getting your policy – it may take a bit longer if you have certain lifestyle or health conditions. You can also save and resume the application so you don’t have to do it all at once.

I don't know that the insurers will actually pay my loved ones if I die

If you answer questions honestly – and in full – during the application process, you (if you’re terminally ill) or your loved ones (if you die) will be paid.

I only get a payout if something happens to me – life insurance is a waste of money

Life is unpredictable and you don't know if something will happen to you. Life insurance puts you in control, by making sure your loved ones are financially protected if you die.

Read the Guide to Barclays Simple Life Insurance1 for more details.

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, use our cover calculator, or get independent financial advice
    • You can apply in branch or online 
    • 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
    • We may restrict some elements of your cover based on the information you give us. If we do this, 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
    • Your premiums and amount of cover will remain the same for the duration of the policy, unless you make any changes
    • You can make certain changes to your cover without the need for further 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 and hospitalisation benefit
    • Exclusions and other relevant information can be found in the Barclays Simple Life Insurance Policy Booklet1
  • Limits

    Age

    • 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)

    Duration

    • The minimum duration is 5 years
    • The maximum duration is 50 years (the policy must end before your 90th birthday)

    Cover amount

    • The maximum cover amount is £5 million