Guaranteed Life Insurance

Frequently Asked Questions

• Why is Smart Guaranteed Life Insurance important?

  These days we are all working with tight budgets, and no-one would want to leave family members who have their own obligations with the burden of funeral and other unexpected costs that can arise when you pass away. That's why Guaranteed Life Insurance is flexible and straightforward, which can pay out when it's most needed. So your loved ones will have one less thing to worry about at an emotional time.

• I'm healthy, why would I need Smart Guaranteed Life Insurance?

  If we knew when we were going to die, then insurance such as this would not be of value. But insurance is for the unexpected and of course, no-one knows what lies around the corner, whether it's an accident or illness - and securing cover early ensures the protection is there if it's needed.

• How much cover can I get with Guaranteed Life Insurance?

  Smart Guaranteed Life Insurance offers benefit levels from £2,000 right up to £20,000.

  Remember too, if death is the result of an accident, then the benefit amount is tripled – meaning that three times the Life Insurance benefit will be paid out. For example, if you have a benefit amount of £10,000, and you die as the result of an accident, the benefit payable to your loved ones would be £30,000.

  Choose a Guaranteed Life Insurance benefit amount to fit your needs and budget, depending on your age:

  Ages 30 to 54 – up to £20,000

  Ages 55 to 59 – up to £17,000

  Ages 60 to 64 – up to £13,000

  Ages 65 to 69 – up to £12,000

  Ages 70 to 74 – up to £9,000

  Ages 75 to 80 – up to £6,000

• Am I eligible for Smart Guaranteed Life Insurance?

  If you are a UK resident aged between 30 and 80, we guarantee to accept you for this insurance.

• Is it necessary to have a medical or answer any health questions?

  With Smart Life Insurance, there are no medicals or health questions.

• Are there any exclusions to a Guaranteed Life Insurance policy?

  During the first two years you hold your Guaranteed Life Insurance, a benefit will only be paid if death is due to an accident.  Should you pass away due to a non-accidental death in the first two years we will refund any premiums paid towards your individual cover. After the first two years of cover there are no exclusions on the cover provided.

• What is meant by "accident" and "accidental death"?

  Accident means an event resulting in bodily injury occurring whilst this policy is in force, where the injury is directly and solely caused by accidental, violent and external means and where the injury is not self-inflicted.

  Accidental death means death occurring as a direct result of an accident which took place while the life insured was covered under the policy and where death occurs within 90 days of the accident.

• Does Smart Life Insurance cover extend around the world?

  Yes. Once your application is accepted you’re covered anywhere in the world 24/7, as long as you continue to pay your premiums from a UK bank account.

• Can I cover my partner?

  Yes with our Guaranteed Life Insurance you can choose to cover your life (single plan), or cover yourself and your partner (joint plan).

• Will my monthly Guaranteed Life Insurance premiums ever change?

  Our Guaranteed Life Insurance is a Level policy. This is great for people who want certainty, knowing that their increasing age will not affect their monthly premium – it will stay the same each year. 

  Your premium is guaranteed not to change until the policy anniversary on or following your 95th birthday when cover is free and premiums are no longer payable,

  Your benefit amount will be fixed.

  With the Level premium option, it is important to note that the value of the benefit amount you choose at the start of the policy, may not keep up with inflation. So, if you are planning to leave your benefit amount to pay for funeral expenses, its value may not keep up with funeral cost inflation.

  You can ask us to make changes to your Guaranteed Life Insurance policy, however, these changes may be subject to the payment of an additional premium based on your age at the time of the request.

• How long can I keep my Smart Guaranteed Life Insurance?

  As long as you pay your premiums from a UK bank account, your Smart Guaranteed Life Insurance cover is guaranteed for the rest of your life and you’ll be covered anywhere in the world, 24/7 – even if your health and circumstances change.

• Will I get anything back if I cancel my Smart Life Insurance?

  You have 30 days from the receipt of your Policy documents, during which time you can cancel your Policy by writing to us or giving us a call. You can still cancel your Policy after 30 days, but you will not get anything back.

• How do I or my family actually get my Smart Life Insurance benefit amount if I have a serious injury or I die?

  There are 3 ways for your family to make a claim in the event of your death:

  • Call us FREE on 0800 458 6901 Monday - Friday from 9am to 7pm
  • E-mail us at service@smartinsurance.co.uk
  • Write to us at Smart Insurance, PO Box 6063, Windsor, SL4 9GL

  We will send out a claim form to be completed, signed and returned to us.

  Note: If the claim is accepted, the insurer will pay the benefit amount to the person who is legally entitled to it and they will refund any premiums paid between the date of death and the date the claim is paid.

• How do I put my Smart Life Insurance policy into trust?

  You can put your Smart Life Insurance policy into trust after you take out the policy. If you are thinking about putting your policy into trust you can find out more information here, or you can seek independent legal advice. We are unable to give you any advice or recommendation on the suitability of Trusts.

• When do I stop paying my Guaranteed Life Insurance premiums?

  On the policy anniversary following your 95th birthday, cover is free and premiums are no longer payable.

  If you hold a joint policy, once the eldest person reaches the age of 95 their proportion of the total monthly premiums will no longer be payable from the policy anniversary following their birthday. The person that has not yet reached the age of 95 will continue to pay premiums for just themselves until the policy anniversary following their 95th birthday, when premiums will also be no longer payable.