Halifax Life Insurance : Review and Quotes

Alexandre Desoutter Alexandre Desoutter  updated on November 24, 2020

This is the ultimate review to guide you through the ins and outs of Halifax life insurance. You might already know that Halifax life insurance 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 life insurance contract, as well as indicative life insurance quotes and tips to lower your life insurance premium, then you’ll probably love our halifax life insurance reviews.

Let’s dive right in!

Should you take out Halifax life insurance?

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 :

  • Scottish Widows handles Halifax’s life insurance and in 2019, Scottish Widows paid out 99% of claims and 46% of these was for cancer.
  • 1.6/5 rating on TrustPilot
  • 2 star rating on Defaqto

What should you know when taking out Halifax life insurance?

In this table, here are a few things that you should know when checking if Halifax life insurance is the best for you :

CriteriaHalifax details
Minimum age to take out Halifax life insurance18 years
Maximum age to take out Halifax life insurance68 years
Pay-out at Halifax Life insuranceUp to £5,000,000
Halifax Life insurance with free giftsNo
Terminal illnessYes
Halifax life insurance premiumFrom £5
Halifax life insurance

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What are Halifax life insurance policy types ?

Halifax Life insurance offers different types of life insurance :

  • Halifax Term life insurance
  • Halifax whole life insurance
  • Halifax critical illness

What is Halifax term life insurance? 

You can choose between two options with Halifax Life insurance :

  • Halifax 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. 
  • Halifax 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.

Here are the details about Halifax term life insurance :

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

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

What is Halifax whole life insurance?

Halifax has two whole life insurances :

  • Halifax Over 50 whole life insurance : Halifax offers an over 50 whole life insurance for UK Residents between 50-75 years old. Premiums are payable up to the policyholder’s 90th birthday, after which cover will be provided for free.
  • Halifax Lifetime cover : Also known as Halifax mortgage life insurance, Halifax offers whole of life insurance.  It is a form of insurance that will pay out in the event of your death (and sometimes against diagnosis with a life-threatening disease) and that remains in force throughout your entire life (as long as you continue to pay the premiums). Halifax life insurance mortgage is perfect when you are taking a loan or if you have debts.

What is Halifax 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. 

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.

Halifax critical illness cover booklet: here.

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 

Can you take out joint life insurance with Halifax ?

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

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. 

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What can you add to your Halifax life insurance policy?

Halifax life insurance policy can include this extras or it can be add-on to your policy :

  • 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.
  • 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.
  • Free accident 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.

What are Halifax life insurance contact number ?

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

ServicePhone NumbersOpening Hours 
Get a quote at Halifax0345 850 3705 Mon to Fri – 8am to 6pm
Sat – 9am to 12:30 pm
How to claim at Halifax0345 601 4179Mon to Fri – 8am to 6pm
Sat – 9am to 12:30 pm
How to cancel at Halifax0845 600 1194Mon to Fri – 8am to 6pm
Sat – 9am to 12:30 pm
Halifax life insurance contact

Here is life insurance Halifax head office address :

Halifax Life Insurance
The Mound
Edinburgh
EH1 1YZ

Halifax online login for life insurance

You can create an account online with Halifax, you will find it under this link.

How to cancel Halifax life insurance? 

Sometimes, you will have to pay administrations fees and :

  • 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

Call Halifax life insurance for more details : 0845 600 1194.

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.

Are there alternative to Halifax Life insurance?

Yes, you can take out :

  • Halifax mortgage protection, but it is not exactly the same thing. This helps you cover your repayments on your loan.
  • Halifax income protection : Your family will receive a regular payment for a set period.

FAQ

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. 

Is life insurance worth getting?

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