What is life insurance?
Life insurance can help give your family financial protection if you pass away during the term of your policy.
It can pay out a lump sum of money to help those you love to maintain their standard of living and keep paying the bills.
To be eligible for life insurance, you need to be a UK resident and be 18 years of age or older.
Get up to £100 cashback with our insurance
Take care of what you value most, and we'll take care of you - a cashback reward with our range of insurance products: home, motor and life.
£50 cashback for two eligible insurance policies and £100 for three eligible policies.
If you purchase or renew a policy between 02 April 2024 and 02 July 2024. The policy needs to be held on 02 August 2024.
You must purchase new policies directly from Lloyds Bank online, by phone or in a branch. The policy cannot be purchased through a price comparison website.
More about our cashback offer
How does life insurance work?
What’s the right time to get life insurance?
When life changes, you have an excellent chance to think about how you can protect your loved ones from unexpected circumstances.
How much does life insurance cost
How much cover you need, your age, and other factors such as your health history, determine the cost of life insurance. Premiums start from £5 per month*. You can get a quote online to get a more accurate idea of how much your cover could cost you.
If you have a history of smoking, this can also increase your life insurance costs, as the risk of death is greater. Lifestyle factors such as dangerous jobs and hazardous hobbies are also taken into consideration.
If you decide to add Critical Illness Cover to your life insurance policy when you apply, this will be for an extra cost.
*10% of Lloyds Bank customers paid £5 per month for Plan and Protect Life Insurance bought online between 01 June 22 and 31 May 23. Price is based on single level life insurance, excluding critical illness cover, and is subject to underwriting criteria that depends on personal circumstances. Prices are subject to change.
Get covered today
This table below shows what the price might be, based on your age group. It shows how the monthly cost you pay for life insurance can be lower if you take it out sooner.
Get protected by experts
Scottish Widows provide our life insurance policies. They're a part of Lloyds Banking Group, like us. Scottish Widows are experts, and they've been protecting what matters most for over 200 years.
Here are a few reasons why they could be the right choice to protect you and your loved ones:
Scottish Widows life insurance products have no cash-in value at any time. So if the policy ends without a claim, you won't get any money back. If you don't make payments on time, your cover will stop, your policy will end and you'll get nothing back.