Is Scottish Widows 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 Scottish Widows life insurance. You might already know that Scottish Widows 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 Scottish Widows 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. 

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

3 Safe overall rating for Scottish Widows

Rating CriteriaSafe RatingOur Review
Customer service satisfaction, claims and support

5 star rating on Defaqto
Policy documents are available on the website
Support services like Scottish Widows Care are provided
no] A number of bad reviews as relating to customer care experience was recorded on review websites
1.5/5 rating on TrustPilot
Contact details are not provided on the website

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
If you stop paying premiums, the insurance policy will be cancelled

Value for money

Cover of up to £25 million is provided for life term insurance
£3 million worth of cover is provided for critical illnesses
Gift cards are not provided
With Scottish Widows, if you stop paying your premiums, you won’t get any money back and your cover will stop

Financial strength

In 2019, Scottish Widows paid out £128.1 million in life cover claims, helping over 7,900 families
99% of claims were paid out and 46% of these was for cancer.

Apps and technologies

The website is user friendly
Very detailed information is provided on the website
Policy documents can be easily accessed
Quotes cannot be gotten online
Chatbot is not availabe
Live Chat option is not available

Safe rating for Scottish Widows Life insurance

Expert and customer satisfaction reviews for Scottish Widows

Review organisationConsumer satisfaction rates for Scottish Widows Life insurance
Trustpilot1,6/5 based on 116 reviews
Defaqto5
Experts rating for Scottish Widows

Scottish Widows insurance in a nutshell

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

CriteriaScottish Widows details
Minimum age18 years
Maximum age 79 years
Pay-outUp to £25,000,000
Life insurance with free giftsNot stated
Extras

Scottish Widow Care

Terminal illnessYes
Scottish Widows life insurance in a nutshell

What are Scottish Widows 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 Scottish Widows 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.
CriteriaScottish Widows life insurance
Minimum term5 years
Maximum term40 years
Pay-outUp to £25,000,000
Minimum monthly premiumNot stated
Extras or any interesting facts 

Scottish Widow Care

Scottish Widows term life insurance

Should you take level or decreasing term life insurance?

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

CriteriaProvider Details
Scottish Widows term life insurance (level)
  • Scottish Widows provides life insurance for people who are up to 17 years old
  • The Critical illness cover can be added as an extra to the life policy
  • Up to £5m worth of cover is provided
  • Automatic critical illness cover for children is provided
Scottish Widows decreasing term life insurance, also known as life insurance for mortgage
  • With the decreasing cover offered by Scottish Widows, the amount you are covered for will reduce slightly each month in a similar way to the amount owed on a standard repayment mortgage
  • You can choose a fixed rate of interest between 0% and 18%
  • A set mortgage rate of 8% a year is assumed by Scottish Widows
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.

  • The increasing cover performs the function of protecting your insurance policy against inflation
  • The amount you are covered for will increase each year in line with the Retail Prices Index (RPI). The increase will be at least 2%, up to a maximum of 10%.

Can you take out a Scottish Widows insurance with someone else?

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

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 Scottish Widows life insurance extras? 

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

Details Reviews
Premium Protection

In the case that the policyholder has been injured or involved in an accident and is unable to work, the premiums will be protected found after 26 weeks, the premium is paid till either the policyholder turns 70 or the policy term ends.

Accidental death cover

Free accidental death cover is provided while the insurance application is being processed.

Free Mortgage Cover

Free Mortgage cover is provided while the insurance application is being processed.

Scottish Widows

This is a service that gives the policyholders access to a wide range of support and services. Scottish Widow works with RedArc to provide this service

Life Cover Buyback

This feature allows the policyholder to buy back their life cover after the critical illness claim has been paid.

Scottish Widows life insurance extras

Should you take out Scottish Widows 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 Scottish Widows the best critical illness cover? 

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

CriteriaOverall life insurance and critical illness cover
Coverage

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

  • Cover worth the lower amount between £30,000 and 25% of the amount of paid for the premium
  • In the case that the policyholder is under the age of 45 and suffers from one of the neurological conditions listed, cover worth 150% of the amount of the cover will be paid. The maximum amount to be paid in this case is £200,000.
  • An advance payment of the current amount of cover available is provided if the policyholder is on any UK hospital waiting list.
  • Provision of Children’s cover
Children’s Cover
  • Cover is valid for children between 30 days old and 22 years
  • 50% of the cover amount, up to a maximum of £30,000, if a child is diagnosed with, or undergoes the specific surgery described for one of the listed critical conditions
  • Funeral cover of £10,000 is provided
What should you know about Scottish Widows critical illness cover?

In 2019, Scottish Widows paid out £128.1 million in life cover claims, helping over 7,900 families. 99% of claims were paid out and 46% of these was for cancer.

Scottish Widows life insurance

How much is Scottish Widows 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 Scottish Widows life insurance?

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

ServicePhone NumbersOpening Hours 
Get a quote at Scottish Widows 0345 030 6240Mon to Fri 10am–4pm
How to claim at Scottish Widows 0800 056 5590 Monday to Friday 9.00am – 5.30 pm
How to cancel at Scottish Widows

Not available

Not available
Scottish Widows phone numbers

What are Scottish Widows general contact details? 

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

General contacts
Mailing address

69 Morrison Street
EH3 8BW
Edinburg
United Kingdom

Social media 

Facebook, Twitter, YouTube

Chatbot

No

Scottish Widows general contacts

How to claim at Scottish Widows life insurance? 

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

How to claim on your life insurance at Scottish Widows ?
When to claim?

Claims should be made as soon as possible.

Claim by mail

Scottish Widows
15 Dalkeith Road
Edinburgh EH16 5BU

Claim by emailNot Available
Claim online

Not Available

Claim by phone0800 056 5590
Claim at Scottish Widows life insurance

How to cancel my Scottish Widows life insurance? 

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

How to cancel your life insurance at Scottish Widows
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

Scottish Widows
15 Dalkeith Road
Edinburgh EH16 5BU

Cancel by email

Not possible to cancel policy by email

Cancel onlineNot possible to cancel policy online
Cancel by phone

0345 030 6240

How to cancel my Scottish Widows life insurance?

How do I get Scottish Widows life insurance quotes? 

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

How to get a life insurance quote at Scottish Widows
Quote online

Not available

Quote phone0345 030 6240
Get a quote at Scottish Widows

How do I log into Scottish Widows life insurance?

Click on the "Log in" option on the Homepage

Do we recommend Scottish Widows life insurance?

Scottish Widows was founded in the 1800s by a group of Scotsmen with the intention to protect their wives, sisters and other female relatives financially. They offer three broad types of policies which are the level term, decreasing or increasing cover and the critical illness cover. They offer insurance of up to £25 million and have a number of support services offered like the Scottish Widow Care which is a service that gives the policyholders access to a wide range of support and services. Scottish Widow works with RedArc to provide this service. They have a 5 stars rating on Defaqto and a poor rating on TrustPilot. Their services are recommended as they have a high financial capacity to pay out claims.

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.