How does life insurance work?

Churchill Life Insurance is provided by Legal & General - one of the UK’s leading financial services companies with a dedicated expert claims team.

With Churchill life insurance you can protect yourself for whatever life throws at you. Using our effortlessly simple products, you can build a reliable financial safety net for your loved ones to support them when you’re no longer around.

You can choose the amount you want to be covered for.

For a monthly premium, you can choose the period of time you want to be insured. We call this the ‘term’ and it can be up to 50 years as long as it finishes by the time you are 90. If you die during the policy term, the cover amount is paid as a lump sum to your family through a trust or estate – again, it’s up to you to decide.

How much life insurance do you need?

Consider how you’d prepare yourself and your family for a major life setback if you die.

If you want help to work out how much life insurance you might need, you can use our online Cover Calculator. This way you’ll be able to choose the policy that better suits your lifestyle.

What about your mortgage?

Churchill Life Insurance can help you pay off your mortgage. However, before you take out a policy, you could think about the following:

  • How long will it take to pay off your mortgage? And, is it an ‘interest only’ or a ‘repayment’ mortgage?
  • We offer you two different types of cover to choose from – Level Term Assurance and Mortgage Decreasing Term Assurance.
    • Level Term Assurance? This means the amount you’re covered for stays the same throughout the policy.
    • Mortgage Decreasing Term Assurance? The amount you’re covered for decreases over time roughly in line with a repayment mortgage.

Your Premium

  • Your premium will be based on your age, health and lifestyle. Keep in mind, there are specific illnesses we cannot cover you for – we’ll explain more when you apply for a policy with us.
  • Your premium stays fixed - unless you make changes to your policy.
  • If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed payment. There are no cancellation charges.

Terminal Illness Cover

Included as standard on all life insurance policies, your policy could pay out on diagnosis of a terminal illness rather than death. By terminal, it means a definite diagnosis by your hospital 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 your hospital consultant and Legal & General’s medical officer, the illness is expected to lead to death within 12 months

Terms and conditions apply, please read the Policy Booklet for more information.

This cover is only available on policies with a term of 2 years or more.

Critical Illness Cover

This is an optional extra and it covers you only for a number of specified conditions. This may include common illnesses like some forms of heart attack, cancer (not all forms of cancer are covered) and stroke. So if you were to be diagnosed with from one of these specified conditions, you could be eligible to receive a payout even if you weren’t to die during the policy term.

If you add Critical Illness cover at an additional cost, your children will also be covered. Please bear in mind that there are policy Terms and Conditions that may affect the claim. It’s your responsibility to read these carefully before deciding on whether it’s the most suitable policy for you and your family.

Critical Illness Cover is not the same as Terminal Illness Cover. Terminal Illness Cover could only pay out the amount of cover if you’re diagnosed with a terminal illness and have a life expectancy of 12 months or less. Critical Illness Cover may pay out regardless of your life expectancy.

Churchill Life Insurance isn’t a savings or investment product, inflation may reduce the value of cover and you wouldn’t get anything back at the end of the policy if no valid claims are made.