Tescobank.com Life Insurance provides peace of mind so that your family and loved ones will be protected. Just covering the basics, such as the weekly shopping or regular bills, could become a burden to them without your valuable source of income. If your children are grown-up you may feel that life insurance is one thing you may not have to think about. But consider how your partner would cope without your support.
Even if you have other savings, it could still leave your partner without an important part of their regular income. It could even mean they might have to go on working into their old age, rather than enjoying a comfortable retirement. It may be of small comfort at the time, but if you had the reassurance of Tescobank.com Life Insurance at least you would know that your family would be able to cope financially.
Do Tescobank.com provide life cover that pays out a guaranteed cash sum upon death within a specified period?Yes, Tescobank.com Life Insurance pays out a guaranteed cash sum upon death. The plan covers you for a specified term and the level of cover remains level i.e. fixed for this period.
Can I take out a plan that covers both my partner and myself? Yes, you can take out a single plan that covers just yourself or, if you prefer, you can take out a joint plan to cover both yourself and your partner.
Do you provide premium protection?Tescobank.com Life Insurance does not offer the option of adding on premium protection.
Do you provide a whole of life plan?No, Tescobank.com only offer two forms of life insurance cover, both of which provide cover over a fixed term.
Is there any cash back at the end of the plan?No, at the end of the term of the plan your cover will cease and there will be no cash back payment.
What happens at the end of the plan term?At the end of the specified term of your plan, the life cover will end and there is no cash-in value.
Do you provide life cover where you do get money back at the end of the plan? Tescobank.com do not offer a life insurance plan that provides cash upon completion of the plan term. Tescobank.com Life Insurance will only pay out upon death or diagnosis of a specified critical illness (if critical illness cover included) or a terminal illness during the plan term.
Can I cancel the plan at any time? Yes, if you wish to cancel your plan all you need to do is notify Tescobank.com in writing. If you change your mind and cancel your plan within the first 30 days then Tescobank.com will give you back any premiums that you have already paid. If you cancel the plan after 30 days, any premiums that you have paid already will not be refunded.
I am looking for a type of life cover to provide my loved ones with a cash sum upon death. What should I consider when deciding on the level of cover I need?As a guide you should consider the following - any sum that you would like to leave your dependants, the amount of your outstanding mortgage (if not already covered), other outstanding loans (if not already covered), funeral expenses, and education costs for your children.
Can I include critical illness cover as part of my Tescobank.com Life Insurance plan?For an extra cost, Tescobank.com Life Insurance gives you the option of adding critical illness cover onto your plan. The plan will therefore cover you against death or diagnosis of 1 of 28 specified critical illnesses. If you wish to add critical illness cover onto your Tescobank.com Life Insurance, simply select the option when you get your quote. You can only add on critical illness cover to your Tescobank.com Life Insurance when you take out your plan. You must be aged between 16 and 59 to add on critical illness cover. The plan will end after the first payment has been made and this means that you would not be able to claim again under the plan.
How long can I take out Tescobank.com Life Insurance for? You can take out Tescobank.com Life Insurance for a minimum of 2 years. The maximum plan term is 50 years, as long as the plan ends before your 90th birthday.
Does this cover my/our mortgage?Tescobank.com Life Insurance can cover your mortgage. However, the level of cover remains fixed over the term of the plan - it may be suitable if you wish to take out life insurance cover that protects your mortgage and provides a cash sum to your loved ones upon death. If you are looking for life cover to cover a repayment mortgage only then you may want to look at Tescobank.com Mortgage Life Insurance.
In order to make an application Tescobank.com require you to have the following documents handy- Your doctors details including name and address of their surgery / clinic.
- Information on how much you drink and/or smoke.
- Details regarding your height and weight.
- Details regarding any problems with illness or injury that you have / have had including type and treatment.
- Details regarding any family history of disease or ill health.
- Your bank details including account number, sort code and address.
Additional information can be found on the Tescobank.com Life Insurance website.
(See the links above)
Tesco Life Insurance
