This is the ultimate review to guide you through the ins and outs of Smart Life life insurance. You might already know that Smart Life 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!
Table of Contents
Is Smart Life 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.
Smart Life life insurance has a lot to offer. Here are the main points that you should look at before taking out life insurance with Smart Life .
4 Safe overall rating for Smart Life
|Rating Criteria||Safe Rating||Our Review|
|Customer service satisfaction, claims and support|
Average rating of 3.4/5 on TrustPilot
Whole of life cover is offered
|Value for money|
With the Family policy, the policyholders can get a 10% cashback of their first year’s premiums
The policies offered by Smart Insurance are provided by the Scottish Friendly Assurance Society Limited and they have been providing life insurance for over 150 years.
|Apps and technologies|
Quotes can be gotten online
Expert and customer satisfaction reviews for Smart Life
|Review organisation||Consumer satisfaction rates for Smart Life Life insurance|
|Trustpilot||3,4/5 based on 4 reviews|
Smart Life insurance in a nutshell
In summary, here are the main features you need to know when taking out life insurance with Smart Life .
|Criteria||Smart Life details|
|Minimum age||18 years|
|Maximum age||64 years|
|Pay-out||Up to £750,000|
|Life insurance with free gifts||– A £75 Amazon gift card is given to new Family Life insurance policyholders <br>- Free Will Kit worth £100 is given|
10% Smart Cashback is given after a year of successful monthly payment.
What are Smart Life 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 Smart Life 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.
|Criteria||Smart Life life insurance|
|Minimum term||1 year|
|Maximum term||40 years|
|Pay-out||Up to £750,000|
|Minimum monthly premium||£6.74|
|Extras or any interesting facts|
Should you take level or decreasing term life insurance?
Smart Life offers two types of term life insurance: one is level life insurance, the other one is decreasing life insurance.
|Smart Life term life insurance (level)|
|Smart Life decreasing term life insurance, also known as life insurance for mortgage|
Smart life insurance does not provide this type of cover.
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.
Smart life insurance does not provide this type of cover.
Should you take Smart life whole life insurance?
The Whole of life insurance provided by Smart life is also called the "Age Based Policy".
|Whole life insurance||Smart Life whole life insurance details|
|Smart Life whole life insurance|
Can you take out a Smart Life plan life insurance with someone else?
Yes, you can either have a single or a joint policy at Smart Life .
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 Smart Life life insurance extras?
You can add these extras at additional cost to your Smart Life life insurance:
|Optional Accidental Death Cover|
This cover provides up to £650,000 worth of cover Accidental Death cover to a Smart Life Insurance insurance policy. This cover is provided in the case that the policyholder has been involved in an accident and dies within 90 days of an accident which occurred after the start date of the insurance policy.
This is an optional cover that can be added to an insurance policy. Each insured child is offered cover of up to £30,000.
|Optional Critical illness cover|
This is a cover provided for policyholders who have been diagnosed with critical illnesses. The amount given in terms of benefits is determined by the age of the policyholder. People who fall between the ages of 18-44 get up to £375,000.
|Free Will Kit|
Free will kit worth £100 is included. This is available in the case that the policyholder dies during the insurance term.
|Critical illness Cover|
Critical illness is provided.
Should you take out Smart Life 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 Smart Life the best critical illness cover?
Here are the main features when you take out Smart Life life insurance with serious illness:
|Criteria||Overall life insurance and critical illness cover|
The Life and Critical illness cover that SmartLife provides offers the following:
|What should you know about Smart Life critical illness cover?|
The Critical Illness cover provided by SmartLife can be added as an optional extra at an additional cost.
How much is Smart Life 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 Smart Life life insurance?
Here are all the important phone numbers for contacting Smart Life life insurance:
|Service||Phone Numbers||Opening Hours|
|Get a quote at Smart Life||0800 977 6023||Monday to Friday 9:00 am to 7:00 pm|
|How to claim at Smart Life||0800 458 6901||Monday to Friday 9:00 am to 7:00 pm|
|How to cancel at Smart Life|
0800 458 6901
|Monday to Friday 9:00 am to 7:00 pm|
What are Smart Life general contact details?
You will find in this table all the general contacts that you would need if you want to reach Smart Life life insurance:
How to claim at Smart Life life insurance?
You will find on this table the different possibilities for reporting a claim on your Smart Life life insurance:
|How to claim on your life insurance at Smart Life ?|
|When to claim?|
As soon as possible
|Claim by mail|
|Claim by email||[email protected]|
|Claim by phone||0800 458 6901|
How to cancel my Smart Life life insurance?
You will find on this table the different ways to cancel your Smart Life life insurance:
|How to cancel your life insurance at Smart Life|
|Cancel by mail|
|Cancel by email|
|Cancel online||Not available|
|Cancel by phone|
0800 458 6901
How do I get Smart Life life insurance quotes?
Here are the different ways to get a life insurance quote at Smart Life :
|How to get a life insurance quote at Smart Life|
|Quote phone||0333 321 9180|
How do I log into Smart Life life insurance?
There is no Login option
Do we recommend Smart Life life insurance?
Smart life is the result of a partnership between Neilson Financial Services and Scottish Friendly, a financial services group founded in 1862. They are well known for their flexible and affordable insurance services. Scottish Friendly, paid out 99.4% of all life insurance claims in 2018 and this shows that they are financially capable of paying out claims. They offer two types of life policies: life insurance and guaranteed life insurance. They also provide optional accident insurance, critical illness cover, children cover. They have average reviews and offer a couple of incentives like the 10% cashback, free will kit. The insurance company is recommended.
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.
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.
Yes, it is worth getting life insurance when people depend on you financially, like your family.
Lots of life insurance providers offer free gifts:
– Royal London
– Legal & General
– Shepherds Friendly
– British Seniors Insurance Agency
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.
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.