Natwest Life insurance : Review and quotes

pierre fruchard pierre Fruchard  updated on November 27, 2020

This is the ultimate review to guide you through the ins and outs of Natwest life insurance. You might already know that Natwest 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 Natwest life insurance reviews.

Let’s dive right in!

Should you take out Natwest life insurance?

When taking out Natwest 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. 

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

  • 3 star rating on Defaqto
  • Whole life cover is provided
  • Increasing and Decreasing Covers are provided
  • A £75 gift voucher is available for policyholders
  • No live chat option
  • 1.4/5 rating on TrustPilot
  • The Critical illness cover offered provides cover only 3 critical medical conditions

What should you know when taking out Natwest life insurance?

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

CriteriaNatwest details
Minimum age17 years
Maximum age 86 years
Life insurance with free gifts£75 gift card for Argos, B&Q or M&S is given to policyholders.
ExtrasA life insurance calculator is available on the website.
Terminal illnessYes
Natwest Life Insurance

What are Natwest life insurance policy types?

Natwest Life insurance offers different types of life insurance :

  • Natwest Term life insurance
  • Natwest over 60 whole life insurance
  • Natwest critical illness

What is Natwest term life insurance? 

You can choose between three options with Natwest Life insurance :

  • Natwest 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. 
  • Natwest 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. The rates proposed for the Decreasing Life Insurance are tailored to match the interest rate of your mortgage. Sometimes this insurance can be called Natwest mortgage life insurance.
  • Natwest increase cover: Every year on the day that the insurance policy was taken out, the insurance amount to be paid increases with regards to the Retail Prices Index, up to a maximum annual increase of 10%.

Here are the details about Natwest term life insurance :

CriteriaNatwest life insurance
Minimum term3 years
Maximum term70 years
Minimum monthly premium£5
Extras or any interesting facts The Smart Health app and website gives easy access to a 24/7 virtual GP
Natwest term life insurance

What is Natwest whole life insurance?

Natwest Over 60 whole life insurance. Natwest over 60 life insurance offers an over 60 whole life insurance for UK Residents between 60-80 years old. Guaranteed acceptance, no medical questions are asked. Funeral Benefits are offered in the case that the policyholder dies. Access to a 24/7 virtual GP with Smart Health is provided.

What is Natwest 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 Natwest provides is called Critical 3 and it can only be added to an already existing insurance policy. Cover is provided for only three critical conditions which are Stroke, Cancer and Heart attack.

The Critical Illness Cover provided by AIG has won many awards. An example is the 2017’s Moneyfacts’ ‘Best Critical Illness Provider’ award.

How much is Natwest 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 Natwest ?

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

Finally compare best life insurance in a few seconds, anonymously.

Start comparing

What can you add to your Natwest life insurance policy?

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

  • Smart Health App : This support service provides policyholders with 24/7 access to medical practitioners.
  • Accidental Death Benefit : The policyholder is entitled to a sum in the case that he/she dies accidentally while in the process of taking out a Life Insurance policy with AIG and waiting to have his/her policy underwritten.
  • Terminal illness : Cover is provided in the case that a policyholder dies as a result of a terminal illness.

What are Natwest life insurance contact number?

Here are all the important phone numbers to contact Natwest life insurance: 

ServicePhone NumbersOpening Hours 
Get a quote at Natwest0345 600 6820Monday to Thursday from 9:00am – 6:00pm
Friday 9.00am – 5:30 pm
How to claim at Natwest0345 600 6815Monday to Thursday from 9:00am – 6:00pm
Friday 9.00am – 5:30 pm
How to cancel at Natwest0345 600 6820Monday to Thursday from 9:00am – 6:00pm
Friday 9.00am – 5:30 pm
Natwest phone numbers

Natwest online login for life insurance

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

How to cancel Natwest 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 Natwest life insurance for more details : 0845 600 1194.

Or send a mail to :

Customer Services Team,
AIG Life Limited,
Box 12010,
Harlow,
CM20 9LG

Do we recommend Natwest life insurance?

NatWest life insurance is provided by AIG and it is valid for UK residents age 18 to 64. It provides coverage options like term life insurance (increasing and decreasing) and over 60’s cover (which is also referred to as the whole-of-life cover). Critical illness cover is also provided and it offers cover for 25 major conditions or illnesses, including stroke, heart attack, and certain cancers. But prostate cancer are not covered, whereas it is one of the most known cancer for men.

FAQ

How much is life insurance in 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.

Can I reduce the the length of my insurance?

Yes at any time you can reduce the lenght of your Natwest life insurance.