Is Halifax The Best Life Insurance Policy?

antoine fruchard Antoine Fruchard  updated on July 29, 2020

This is the ultimate review to guide you through the ins and outs of Halifax life insurance. You might already know that Halifax has several different contract options. 

Some are great. Some are less useful. Some are simply too expensive.

So, if you want to get better value for money from your insurance contract, as well as indicative quotes and tips to lower your insurance premium, then you’ll probably love the following article.

Let’s dive right in!

Is Halifax the best life insurance for you?

When taking out life insurance, there are so many things to think about. Life insurance is one of the most important insurance plans to have, as it is the best way to protect your loved ones if something happens to you. 

Halifax life insurance has a lot to offer. Here are the main points that you should look at before taking out life insurance with Halifax. 

3 Safe overall rating for Halifax

Rating CriteriaSafe RatingOur Review
Customer service satisfaction, claims and support

Some contact details are provided on the website
Little or no information provided on the website
Policy documents are not available on the website
A number of bad reviews as relating to customer care experience was recorded on review websites
1.6/5 rating on TrustPilot
2 star rating on Defaqto

Coverage options

Increasing and Decreasing cover are provided
Whole of life cover is provided
Accidental death benefit of up to £250,000 is provided for 90 days before the policy is approved
Critical illness cover for children is automatically provided

Value for money

Cover of up to £5 million is provided for life term insurance
£500,000 million worth of cover is provided for critical illnesses
Gift cards are not provided

Financial strength

Scottish Widows handles Halifax’s life insurance and in 2019, Scottish Widows paid out 99% of claims and 46% of these was for cancer.

Apps and technologies

Life insurance calculator is available on the website
Little information is provided on the website
Policy documents cannot be easily accessed
Chatbot and livechat is not available

Safe rating for Halifax Life insurance

Expert and customer satisfaction reviews for Halifax

Review organisationConsumer satisfaction rates for Halifax Life insurance
Trustpilot1,6/5 based on 1,362 reviews
Defaqto2
Experts rating for Halifax

Halifax insurance in a nutshell

In summary, here are the main features you need to know when taking out life insurance with Halifax. 

CriteriaHalifax details
Minimum age18 years
Maximum age 68 years
Pay-outUp to £5,000,000
Life insurance with free giftsNot stated
Extras

A life insurance calculator is available on the website.

Terminal illnessYes
Halifax life insurance in a nutshell

What are Halifax life insurance policy types?

When choosing life insurance, you have to make a lot of important decisions. You have to choose between different policy types to find which one would best cover your needs. As the first big choice, you have to choose between: 

  • Term life insurance. Term insurance splits into two types: level term or decreasing insurance. If you choose a term insurance, once again you would have to choose between these two. Sometimes, there is an increasing term insurance option. 
  • Whole of life insurance. This insurance will pay out when the policyholders die. Not all insurers offer this type of coverage. 

What is Halifax term life insurance? 

There are two term life insurance options:

  • Level cover guarantees that your loved ones get a payment if you die during a specific period of time. You will receive the same amount during a fixed period. Life insurance can be for 5,10, 20 years, etc., depending on your needs. 
  • Decreasing cover guarantees that your loved ones get a payment if you die during a specific period of time. The amount decreases over the policy term. It is really useful if you have a loan, as the price tends to decline over time. You can choose an increasing cover as well.
CriteriaHalifax life insurance
Minimum term5 years
Maximum termNot stated
Pay-outUp to £5,000,000
Minimum monthly premium£5
Extras or any interesting facts 

Not Available

Halifax term life insurance

Should you take level or decreasing term life insurance?

Halifax offers two types of term life insurance: one is level life insurance, the other one is decreasing life insurance. 

CriteriaProvider Details
Halifax term life insurance (level)
  • Halifax provides life insurance for people who are up to 18 years old
  • The Critical illness cover can be added as an extra to the life policy
  • Up to £5m worth of cover is provided
  • Terminal illness cover is provided
  • Free cover for Mortgage is provided
Halifax decreasing term life insurance, also known as life insurance for mortgage

The Decreasing cover that Halifax is designed to reduce every month in line with a capital and interest repayment mortgage.

Level or decreasing life insurance

Some providers also propose increasing life insurance, which is a similar concept as decreasing life insurance, but with the premiums getting higher rather than lower.

Halifax life insurance propose increase life cover:

  • With the increasing cover offered, the cover amount increases with inflation
  • Increase in rates based on the Retail Prices Index
  • A minimum increase of 2% and maximum of 10% per year

Should you take Halifax whole life insurance?

The Whole of life insurance also known as the over 50 insurance policy that Halifax offers is provided by St Andrew’s Life Assurance Plc. With this Over 50 Plan cover, a fixed sum between £10 and £30 is paid by the policyholder every month and in the case that he/she dies, a lump sum ( which will be determined by the amount paid) will be given to the family members.

Whole life insuranceHalifax whole life insurance details 
Halifax whole life insurance 

Halifax offers an over 50 whole life insurance:

  • This cover option is available for UK Residents between 50-75 years old
  • Acceptance is guaranteed i.e. no need for medical examinations
  • Premiums are payable up to the policyholder’s 90th birthday, after whichcover will be provided for free.
Halifax whole life insurance

Can you take out Halifax life insurance with someone else?

Yes, you can either have a single or a joint policy at Halifax.

Taking out a joint policy covers two people that are together under the same policy. In the end, it is cheaper than two single policies. It covers both of your contributions to the family. It only pays out once, and the sum will be given to the other partner if one dies. It leaves the surviving member of the couple without life insurance after the death of the first partner. 

Taking out a single policy pays for one person only. It pays out the amount chosen. Taking out two policies is more expensive, but you can choose the level you want, and it’s beneficial if the two partners don’t need to be insured at the same level. 

 What are Halifax life insurance extras? 

You can add these extras at additional cost to your Halifax life insurance: 

Details Reviews
Terminal Illness

Cover is provided in the case that a policyholder is diagnosed with an illness that has advanced or has progressed to the extent that it is no longer curable and the illness is expected to lead to his/her death within 12 months

Premium Protection

This cover is provided in the case that the policyholder cannot work for up to 26 weeks and pay the premium as a result of a disability caused by an accident or medical condition.

Early Death Exclusion and Accidental Death.

With this benefit option, any death due to natural causes or sickness within the first two years of the policy will not be payable. Instead, all premiums paid will be refunded to the family of the policyholder.

Mortgage Free Cover

It provides the policyholder with up to £250,000 worth of protection cover while he/she is waiting for the property purchase to be completed.

Free Accidental Death Cover.

The policyholder is entitled to a sum of £250,000 in the case that he/she dies accidentally while in the process of taking out a Life Insurance policy with Halifax and waiting to have his/her policy underwritten.

Halifax life insurance extras

Should you take out Halifax life insurance critical illness cover?

What is critical illness cover? 

It is an extra that can be added to your policy, or can be combined with your standard life insurance. It pays out if you contract a disease. The illness developed must be specified in your policy contract. The most common illnesses covered are cancer and heart attacks, etc. If you become really ill, your insurance will pay out exactly as if you’ve passed away. 

Is Halifax the best critical illness cover? 

Here are the main features when you take out Halifax life insurance with serious illness:

CriteriaOverall life insurance and critical illness cover
Coverage

The Critical illness cover that Scottish Widows provides for Halifax offers the following:

  • Cover worth £500,000
  • Terminal illness cover
  • Cover for children
  • Cover for up to 27 critical conditions
Children’s Cover
  • The children cover provided by Halifax is valid for children between six months and 21 years old
  • This cover provides up to £25,000 or 50% of the amount of cover in the case that the child is diagnosed with one of the critical conditions listed in the policy document
What should you know about Halifax critical illness cover?

This service is provided for Halifax by Scottish Widows. In 2019, 99% of claims were paid out and 46% of these was for cancer.

Halifax life insurance

How much is Halifax life insurance?

The big question is knowing how much life insurance you’ll need. Your answer to this question (as well as your age) will mainly determine the price of your life insurance:

However, your life insurance price will also depend on several factors: 

  • Your medical conditions
  • Whether or not you are a smoker 
  • Which add-ons you add to your life insurance 
  • Your salary
  • The coverage you want
  • Whether you take out a joint policy or not 

So you must ask yourself the relevant questions for your own situation, for example: Do you have a loan? Do you have savings? Do you have debts? Do you have a family? Does your job offer protection? 

How to contact Halifax life insurance?

Here are all the important phone numbers for contacting Halifax life insurance: 

ServicePhone NumbersOpening Hours 
Get a quote at HalifaxNot availableNot available
How to claim at Halifax0345 601 4179Mon to Fri – 8am to 6pm
Sat – 9am to 12:30 pm
How to cancel at Halifax

Not available

Not available
Halifax phone numbers

What are Halifax general contact details? 

You will find in this table all the general contacts that you would need if you want to reach Halifax life insurance: 

General contacts
Mailing address

Halifax Life Insurance
The Mound
Edinburgh
EH1 1YZ

Social media 

Facebook, Twitter, YouTube

Chatbot

No

Halifax general contacts

How to claim at Halifax life insurance? 

You will find on this table the different possibilities for reporting a claim on your Halifax life insurance: 

How to claim on your life insurance at Halifax?
When to claim?

Claims should be made as soon as possible.

Claim by mail

Not Available

Claim by emailNot Available
Claim online

Not Available

Claim by phone0345 601 4179
Claim at Halifax life insurance

How to cancel my Halifax life insurance? 

You will find on this table the different ways to cancel your Halifax life insurance: 

How to cancel your life insurance at Halifax
Fees
  • If the insurance policy is cancelled within 30 days, the premium paid would be refunded fully
  • If the insurance policy is cancelled after 30 days, no refunds would be made
Cancel by mail

Not available

Cancel by email

Not available

Cancel onlineNot available
Cancel by phone

Not available

How to cancel my Halifax life insurance?

How do I get Halifax life insurance quotes? 

Here are the different ways to get a life insurance quote at Halifax: 

How to get a life insurance quote at Halifax
Quote online
  • On the Home Page, Click on the "Sign in to get a quote" option
Quote phoneNot available
Get a quote at Halifax

How do I log into Halifax life insurance?

Click on the "Sign in" option on the Homepage

Do we recommend Halifax life insurance?

Halifax life insurance policies are underwritten by Scottish Widows and it is valid for UK residents age 18 to 64. It provides coverage options like term life insurance (increasing and decreasing) and over 50’s cover (which is also referred to as the whole-of-life cover). Critical illness cover is also provided and it offers cover for 27 major conditions or illnesses, including stroke, heart attack, and certain cancers. The ratings of 2 for Defaqto and 1.6 on TrustPilot are not on the high side. Little or no information is provided on the website, also policy documents are not available and information as regard the services provided are hard to come by. There are other better life insurance services that can be recommended, and adequate research should be made to find one that would suit your needs as a policyholder.

What is life insurance? 

Life insurance is a contract between an insurance company and the policyholder. In exchange for an annual or monthly premium, the insurance company agrees to give out to a designated beneficiary a lump sum if the policyholder were to pass away. 

How does life insurance work in the UK?

Like with other types of insurance, it is a standard procedure: the policyholder pays a premium to a provider, with an agreed level of cover. 

Is life insurance worth getting?

Yes, it is worth getting life insurance when people depend on you financially, like your family.

What are the best life insurance with free gifts?

Lots of life insurance providers offer free gifts: 
– Royal London
– Legal & General
– Aviva
– Shepherds Friendly 
– OneFamily 
– British Seniors Insurance Agency

How much is life insurance in the UK? 

How much life insurance in the UK is depends on a lot of factors. However, with our data, we calculate that the average monthly cost of life insurance is £15. Of course, the price will depend on whether you take out joint or single life insurance, and the term of your insurance if you are not taking out  a whole life insurance policy. 

What is the best life insurance in UK?

There are lot of life insurance policy that have interesting features. Depending on these features, you can decide if this life insurance suits you. 
To find what is the best life insurance for you, use our tool to compare prices and offers from all the insurers on the market instantly.