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You asked: What is a Guaranteed Lifelong Protection policy?

A Guaranteed Lifelong Protection policy - we also call it over 50s cover - is a whole of life insurance policy that pays out a guaranteed cash sum to your loved ones when you die. The policy is designed to provide life cover to any UK resident aged 50 to 80 inclusive at the start of the policy.

The policy has no cash-in value at any time and it won't pay out if the premiums aren't paid for the agreed premium term. Depending on how long the policy runs, the amount paid out on your death may be less than the total amount you've paid and inflation can reduce the value of the cash sum.

The premium term will depend on your age at the start of the policy: you'll either pay us premiums for 30 years or until the policy anniversary after your 90th birthday, whichever comes first. Life cover will continue until it is paid out on your death, even after the premium payment term is finished.

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