Guaranteed Life Insurance

Helps take care of the essentials

When a loved one dies, there’s already a lot to think about – knowing that there could be little extra money coming in, could make all the difference.

Or you could think of it as a financial gift to your children or even your grandchildren, after you’ve gone.

Guaranteed Life Insurance with the Lifetime Payback Guarantee® helps you to protect your family from the financial burden of your funeral and other final costs.

You'll be covered immediately for accidental death, and death by any cause after just 24 months; however if you decide to cancel, you won't get anything back.

 

Things to consider

  • There is no cash-in value at any time
  • Inflation may reduce the value of your benefit amount
  • If you reduce your benefit amount, your Lifetime Payback Guarantee® amount will be reduced by the same proportion
  • For the first 24 months, you will only be covered for accidental death
  • Cover from £2,000 up to £20,000 depending on your age,
  • Cover just £2.78* a month in the first year (that's less than 10p a day!),
  • With the Lifetime Payback Guarantee®, we guarantee that the lump sum your loved ones receive will never be less than the amount you paid in,
  • Guaranteed acceptance - no medical or health questions and if you are a UK resident aged 30 to 79, you are guaranteed to be accepted,
  • Immediate cover - for accidental death, and cover for death by any cause after just 24 months,
  • 3 times you benefit amount up to £60,000 - if death is due to an accident,
  • Flexible policy - apply to make changes for free,
  • Guaranteed no increases - fixed monthly premiums let you plan for the future knowing the cost will never increase,
  • Free Will Kit worth £150** - with every policy purchased to help get your affairs in order,
  • Worldwide cover - you are covered anywhere in the world.

*For a 30-year-old, on an individual policy with £2,000 of cover.

**The Money Advice Service.

Guaranteed Life Insurance helps to provide peace of mind by paying your chosen benefit amount to your loved ones if you were to pass away. The benefit amount can be used to help with funeral costs, or other expenses such as outstanding bills, loans or credit cards.

  • Choose a benefit from £2,000 up to £20,000 depending on your age
  • If death is as a result of an accident, then three times the Life Insurance benefit will be paid
  • This policy is guaranteed to be renewable each year for the whole of your life

Level policy type – How does it work?

Our Level policy 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. As long as you are paying your premium:

  • You will be covered for the whole of your life; and
  • Unlike other providers, you’ll never pay in more than you get back

Smart Guaranteed Life Insurance helps to provide your loved ones with a cash sum when you die. Cover is provided by one of Scotland’s longest standing Life Insurers, Scottish Friendly Assurance Society Limited.

Cover can be secured over a free call to our 0800 877 8818 number without the need for filling out any forms or having a medical examination or blood test.

If you are a UK resident aged 30-79, you are guaranteed to be accepted for a Smart Guaranteed Life Insurance policy.

The Key Facts document contains important information about Smart Guaranteed Life Insurance and its features, benefits, exclusions and limitations. You can download it here. It is important that you read this document, as it contains important information about the insurance. You should only apply for this policy if, having read the Key Facts Document, you believe that you are eligible to claim the benefits.

Smart Guaranteed Life Insurance is subject to certain exclusions and limitations. These are detailed in the Key Facts Document. You should ensure you understand these before taking out the insurance.

This document also contains a copy of the Smart Insurance Guaranteed Life Insurance Terms and Conditions. You should read these carefully so that you can be sure the insurance is suitable for you.

You can apply for this policy if:

  • you are aged between 30 and 79; and,
  • you are a UK resident

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 straight forward, 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?

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.

Am I eligible for Smart Guaranteed Life Insurance?

If you are a UK resident aged between 30 and 79, we guarantee to accept you for this insurance.

Is it necessary to have a medical or blood test?

With Smart Guaranteed Life Insurance, there are no intrusive medical questions asked and you will not be required to undergo a medical or blood test.

Are there any exclusions?

After the first two years of cover there are no exclusions on the cover provided. 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.

What is meant by "accidental death" or "accident"?

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.

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.

Does cover extend around the world?

Once your application is accepted you're covered anywhere in the world, 24/7.

Can I cover my partner?

You can choose to cover your life (single plan), or cover yourself and your partner (joint plan).

Will my monthly premiums ever change?

No. 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,
  • 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 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, your 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 Guaranteed Life Insurance policy?

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 does my family actually get my Guaranteed Life Insurance benefit amount if 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, Landmark Place, Windsor Road, Slough, Berkshire, SL1 1JL.

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 policy into trust?

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

What is the Lifetime Payback Guarantee?

With the Lifetime Payback Guarantee®, the lump sum payment will always be the greater of the cover amount or the total premiums that have been paid towards a life insured’s cover (the Lifetime Payback Guarantee amount®). This means that you can rest assured knowing that you, or your loved ones, will never get back less on death than the premiums already paid in.

There are two easy and quick options for you. You can either get a quote and buy online or call us FREE.

Whichever you prefer you will have:

  • No medical, no blood test
  • No complicated forms


To buy over the phone:

Call FREE 0800 877 8818

Alternatively, we can call you if you complete the Call Me Now form. Our UK based customer service specialist will give you a quick, no-obligation quote and if happy, we will take your application further so you can be covered immediately for accidental death. You'll be covered for death by any cause after just 24 months. All you will need are your direct debit details.


Or to buy online:

  • Step 1 Simply fill in our quick and easy online form to determine your monthly premium.
  • Step 2 If you are happy with the premium amount, continue with the application and buy online. You can be covered immediately. You'll just need your direct debit details.

Things you need to consider: 

  • There is no cash-in value at any time
  • Ensure you choose enough benefit amount as inflation may reduce its buying power over time
  • The protection of the Lifetime Payback Guarantee® applies if you continue your policy for life and will only reduce in value if you reduce your benefit amount
  • For the first 24 months, you will only be covered for accidental death

Personal Accident Insurance

Personal Accident Insurance is for UK residents aged 18 to 69 who are looking for a measure of financial protection in the event they suffer an accident that results in death or an accidental serious injury. Personal Accident Insurance pays a lump sum benefit to your loved ones if you die as the result of an accident, or the benefit is paid to you if you suffer an accidental serious injury.