Key Features and Benefits of Halifax Life Insurance’s Over 50’s and Lifetime Cover

Halifax carries these life insurance products:

Why Go with Halifax?

Here are some reasons to go with Halifax:

Quick Facts

  Over 50s Life Cover Protection for Life Cover
Primary purpose of product

Provides the family with funds to pay for end of life costs or to provide a lump sum to loved ones

Provides protection against unexpected events – the death of the Person Insured, his critical illness or loss of income due to incapacity

For decreasing term cover, the purpose is to ensure the mortgage is paid upon the death of the Person Insured

Plan basics

Provides guaranteed lifelong cover for the person (as long as the policy stays in force).

First two years:

  • Death by accident: Payment will be equal to the sum Insured.
  • Death from other causes: full refund of premiums paid.

Succeeding years: The Sum Insured is payable upon death by any cause, as long it does not fall under the policy’s exclusions.

Provides guaranteed acceptance to qualified applicants

Provided by St Andrew’s Life Assurance Plc for Halifax

Enables the Person Insured to pick and choose coverage for more comprehensive protection. Aside from life cover, one can also choose critical illness and lifetime cover.

One can choose lifetime cover so that you are protected for the whole of your life.

The Sum Insured can either be level or increasing. For life cover, an additional option will be to have a decreasing Sum Insured.

Provided by Scottish Widows for Halifax.

    Life Cover/Critical Illness with Life

Lifetime Cover/Protection for Life
(Availability of options and terms vary based on amount of Sum Insured )

Cover limits

Depends on the maximum premium paid

Life cover: £5,000,000

Critical Illness with Life cover: £500,000 (Maximum), £2,000 (Minimum)

Sum Insured > £15,000

  • Minimum: £15,000
  • Maximum: £5,000,000

Sum Insured < £15,000

  • Minimum: £2,000
  • Maximum: £15,000

Can be level or increasing

Can be level or increasing

Cash-in value None None None
Minimum age at entry




Maximum age at entry


Life Cover:

  • Decreasing basis: 64
  • Level basis: 68

Critical Illness with Life: 64


Other eligibility requirements

Must be a resident of the UK, Channel Islands or Isle of Man are excluded.

Must be a resident of the UK, Channel Islands or Isle of Man are excluded.

Must be a resident of the UK except the Isle of Man or the Channel Islands.

Must have a UK bank account.

Length of cover
Minimum term

Not applicable

For Critical Illness with Life: 5 years

No minimum term, as long as Person Insured meets eligibility requirements

Maximum term

No maximum term, plan can continue for the whole of the Person Insured’s life

For Mortgage cover: Up to the term of the mortgage

No maximum term, as long as Person Insured meets eligibility requirements

Maximum age

Not applicable

For Critical Illness with Life: 69

Not applicable


Premiums are payable up to the Person Insured’s 90th birthday, after which the cover continues without the need to pay for premiums



Minimum premium £10 monthly £5 monthly £5 monthly
Maximum premium £30 monthly Depends on amount of cover Depends on amount of cover
Guaranteed premiums Yes Yes Yes
Reviewable premium No Yes No
Joint life cover



Sum Insured > £15,000: Yes, joint life, second death

Sum Insured < £15,000: No

Other benefits None
  • Critical Illness (optional)
  • Terminal Illness Cover
  • Premium Protection Cover
  • Free Accidental Death Cover or 90-day Mortgage Free Cover

Sum Insured > £15,000

  • Free Accidental Death Cover
  • Premium Protection

Sum Insured < £15,000

  • Free Accidental Death Cover

For the first year, death due to natural causes and pre-existing conditions are excluded.

For accidental death, the following are excluded:

  • Illness or disease
  • Suicide, attempted suicide or willful self-inflicted injury
  • Drug or alcohol abuse
  • Engaging in aviation except as a fare-paying passenger of a commercial flight with a recognised airline
  • Active participation in a riot, civil commotion, usurpation of power or actions with regards to any military, naval or air force

No payments if cause of death or critical illness is due to:

  • Participation in a criminal act
  • Alcohol and drug abuse
  • Unreasonable failure to seek or follow medical advice
  • Self-inflicted injury
  • War, riots, invasion, hostilities, terrorist activities or civil commotion

Early death exclusion may apply. Accidental death excludes:

  • Involvement in hazardous sports and pastimes
  • Self-inflicted injury

Plan Details

Payment of Benefit. The policy will pay out the Sum Insured when the following conditions are met:

Amount of Benefit.

Additional Benefits/Options

Terminal Illness.  If the Person Insured is diagnosed with an illness that has advanced or has progressed so that it is no longer curable and the illness is expected to lead to his death within 12 months, the Sum Insured will be payable to him.

Other details: The claim should be made prior to the last 12 months from the date the policy expires.

Premium Protection. Available for Protection for Life plans where the Sum Insured is greater than £15,000, this will pay the premiums if the Person Insured can no longer earn due to incapacity.

Other details:

Critical Illness. This pays out the Sum Insured upon the diagnosis of a covered critical illness of the Person Insured or any covered children. The critical illnesses covered are:

Other details: Children’s critical illness. This is for natural, legally adopted or step children of the Person Insured who are diagnosed with a covered critical illness and survive for at least 14 days after the diagnosis. Te maximum benefit is the lower of £25,000 or 50%. The children should be between six months to 21 years old. 

Early Death Exclusion and Accidental Death. This is only applicable to specified policies, where it is stated in the policy schedule. This means that any death due to natural causes or sickness within the first two years of the policy will not be payable. Instead, all premiums paid will be refunded.

Free Cover Options. This is free cover provided while the Policy Application is being processed. Depending on the type of cover being applied for, it can be:

Other details:


How to make a claim

When making a claim, the beneficiary will usually need to prepare:

The claimant is expected to cover reasonably-incurred expenses related to medical tests and certificates. These expenses will be reimbursed by Halifax when the claim is accepted. The claimant should also agree to be examined by a medical practitioner appointed by the company, as often as reasonably required. This will be at the expense of the company.

To secure your family's future, fill in the form on the right and get your term life insurance quote now.

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*Scottish Provident 2012 life cover claims paid report.