Is Santander 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 Santander life insurance. You might already know that Santander 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 Santander 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. 

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

4 Safe overall rating for Santander

Rating CriteriaSafe RatingOur Review
Customer service satisfaction, claims and support

3 star rating on Defaqto
Policy documents are readily available on the website
Chat bot options are available on the website
1.5/5 rating on TrustPilot
The reviews on the third party website were centered around a bad customer care service

Coverage options

Santander/Aviva offers a one year free life insurance worth £15,000 to parents with children that are less than 4 years.
90 days free cover is offered to policyholders in the case that he/she is buying a house at the point of applying for Santander/Aviva’s life insurance.
The Critical illness option that Santander/Aviva offers pays up to £25,000 or 50% of the cover amount in the event that the child has a critical illness.
Santander/Aviva offers cover for up to 53 critical conditions.
Whole-of-life cover is not provided

Value for money

Cover can be gotten for as low as £5 per month.
£1m worth cover of house insurance is given
Cashbacks are given to policyholders
No cash in value

Financial strength

Aviva is in charge of Santander’s policy and 98.9% of Aviva life insurance claims paid out in 2018

Apps and technologies

Chat bot is available
The information provided on the website is well detailed
Quotes can be gotten online
There is a life insurance cover calculator on the website
No live chat option
No mobile app

Safe rating for Santander Life insurance

Expert and customer satisfaction reviews for Santander

Review organisationConsumer satisfaction rates for Santander Life insurance
Trustpilot1,5/5 based on 2,259 reviews
Defaqto3
Experts rating for Santander

Santander insurance in a nutshell

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

CriteriaSantander details
Minimum age18 years
Maximum age 89 years
Pay-outNot Stated
Life insurance with free giftsCashback is offered to policyholders every month
Extras

A life insurance calculator is available on the website.

Terminal illnessYes
Santander life insurance in a nutshell

What are Santander 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 Santander 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.
CriteriaSantander life insurance
Minimum term1 year
Maximum term50 years
Pay-outNot Stated
Minimum monthly premium£5
Extras or any interesting facts 

Not Available

Santander term life insurance

Should you take level or decreasing term life insurance?

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

CriteriaProvider Details
Santander term life insurance (level)
  • The term life insurance can range for a period of 1-50 years
  • The cover is available for policyholders between the ages of 18 and 89
  • The premiums remain the same throughout the duration of the policy
  • Terminal illness cover is provided
  • House purchase cover is provided
  • Joint policies are offered
Santander decreasing term life insurance, also known as life insurance for mortgage
  • With decreasing cover that Santander provides in collaboration with Aviva provides the following:
  • The value of the policy gradually reduces during the duration of the policy till it reaches £0
  • The amount paid for the premium is fixed
  • This cover can be used to pay off a repayment mortgage or long-term loan in the case that the policyholder dies at any point while the policy is still active
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.

Santander/Aviva life insurance propose increase life cover:

  • With the increasing cover offered, the cover amount increases with inflation
  • If the CPI does not increase, the amount to be paid for the premium will remain the same
  • A maximum 15% increase in premium rates per year

Can you take out a Santander insurance with someone else?

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

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 Santander life insurance extras? 

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

Details Reviews
Separation Benefit

With this, the policyholder can split a joint policy into two single policies, without having to answer more health and lifestyle questions

House Purchase Cover

Free insurance worth £500,000 is provided between when the policyholder exchanges contracts and when the purchase of the home is completed.

Children Death Benefit

The sum of £5000 is given in the case that a child dies as a result of a critical condition during the policy term.

Santander life insurance extras

Should you take out Santander 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 Santander the best critical illness cover? 

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

CriteriaOverall life insurance and critical illness cover
Coverage

The Critical illness cover that Santander provides is underwritten by Aviva and it offers the following:

  • Additional critical illness benefit
  • Monthly premiums are to be paid from 5 to 50 years
  • Cover provided for up to 53 critical conditions
  • Cover is provided for children at no extra cost
  • Cover of up to £1 million is provided for house cover
  • Joint policies can be split into two single policies in the case of a separation
Children’s Cover
  • The children cover provided by Santander is valid from when the child is 30 days old till when the child is 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.
  • A sum of £5,000 is provided in the case that the child dies during the policy term
What should you know about Santander critical illness cover?
  • Aviva is in charge of Santander’s policy and 98.9% of Aviva life insurance claims paid out in 2018
Santander life insurance

How much is Santander 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 Santander life insurance?

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

ServicePhone NumbersOpening Hours 
Get a quote at Santander0800 028 3744Monday to Friday9.00am – 8.00pm
Saturday9.00am – 4.00pm
How to claim at Santander0800 158 3467Monday to Friday 8.00am-6.00pm
Saturday 8.00am-2.00pm.
How to cancel at Santander

0800 148 8656

Monday to Friday 8.00am-6.00pm
Saturday 8.00am-2.00pm.
Santander phone numbers

What are Santander general contact details? 

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

General contacts
Mailing address

2 Triton Square
Regent’s Place
London
NW1 3AN
United Kingdom

Social media 

No

Chatbot

Yes

Santander general contacts

How to claim at Santander life insurance? 

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

How to claim on your life insurance at Santander?
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 phone0800 158 3467 <br>
Claim at Santander life insurance

How to cancel my Santander life insurance? 

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

How to cancel your life insurance at Santander
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

[email protected]

Cancel onlineNot Available
Cancel by phone

0800 148 8656

How to cancel my Santander life insurance?

How do I get Santander life insurance quotes? 

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

How to get a life insurance quote at Santander
Quote online
  • Click on the Personal option
  • Click on the Insurance option
  • Click on the Life Insurance option
  • Click on the "Get a Quote" option
Quote phoneNot Available
Get a quote at Santander

How do I log into Santander life insurance?

Click on the "Log on" option on the Homepage

Do we recommend Santander life insurance?

Santander life insurance was established in 2010 through a combination of Abbey National plc and parts of Bradford & Bingley plc, with Alliance & Leicester merging into the bank soon after its creation. Their life insurance services are underwritten by Aviva which is one of the most trusted insurance companies. Santander offers three different life policies: Santander Life Insurance (increasing and decreasing), Critical illness cover and Over 50s Life Insurance (which can also be called the Whole-of-life cover). Their critical illness cover is designed only to protect you from falling critically ill only and will not pay out in the event of death. As the insurance policies are managed by Aviva, their financial capability to pay out claims is high and their service is recommended.

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.