Santander Life Insurance: Review and Quotes

Alexandre Desoutter Alexandre Desoutter  updated on December 4, 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!

Should you take out Santander life insurance?

When taking out Santander 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 :

  • 3 star rating on Defaqto
  • Aviva is in charge of Santander’s policy and 98.9% of Aviva life insurance claims paid out in 2018
  • Santander life insurance over 50
  • Santander/Aviva offers cover for up to 53 critical conditions.
  • Cover can be gotten for as low as £5 per month.
  • Whole-of-life cover is not provided
  • 1.5/5 rating on TrustPilot
  • No live chat option

What should you know when taking out Santander life insurance?

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

riteriaSantander details
Minimum age18 years
Maximum age 89 years
Life insurance with free giftsCashback is offered to policyholders every month
ExtrasA life insurance calculator is available on the website.
Terminal illness coveredYes
Santander Life insurance

What are Santander life insurance policy types?

Santander Life insurance offers different types of life insurance :

  • Santander Term life insurance
  • Santander Life insurance over 50
  • Santander critical illness

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. The value of the policy gradually reduces during the duration of the policy till it reaches £0.
  • Increase cover : 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. Maximum 15% increase in premium rates per year.

Here are the details about Santander term life insurance :

CriteriaSantander life insurance
Minimum term1 year
Maximum term50 years
Minimum monthly premium£5
Extras or any interesting facts Not Available
Santander term life insurance

What is Santander Life insurance over 50?

Santander over 50 life insurance offers an over 50 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 Santander life and 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 Santander provides is underwritten by Aviva and it offers the following:

  • Cover provided for up to 53 critical conditions
  • Cover is provided for children at no extra cost
  • Joint policies can be split into two single policies in the case of a separation
  • 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.

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 

Can you take out a Santander life 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 can you add to your Santander life insurance policy?

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

  • Separation Benefit : This support service provides policyholders with 24/7 access to medical practitioners.
  • 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.

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 Santander0800 148 8656Monday to Friday 8.00am-6.00pm
Saturday 8.00am-2.00pm.
Santander phone numbers

Santander life insurance online login

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

How to cancel life insurance Santander?  

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 Santander life insurance for more details : 0800 148 8656

Or send a mail to :

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

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.

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.

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