Compare Halifax Life Insurance Cover
Search over 500 plans to find the best life insurance quote to suit your circumstances.
It is important to compare life insurance quotes from lots of different companies, as some life insurance companies are much more expensive than others, for exactly the same life insurance policy. That could cost you £1000's.
We'll find the right life insurance cover for you at the right price in 3 easy steps:
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About Halifax Life Insurance Cover
The Halifax was formed in 1853 as the The Halifax Permanent Benefit Building and Investment Society. The idea was thought up in a meeting room situated above The Old Cock Inn close to the original Building Society building. Like all early building societies, the purpose of the Society was for the mutual benefit of local working people.
Investors with surplus cash would invest in the society to receive interest, and borrowers could access loans to fund the purchase of a house. Unlike many UK building societies which grew large by acquisitions and mergers, the Society choose an organic form of growth, and proceeded to open branches throughout the UK. By 1913, it was the largest building society in the UK. The first office in London opened in 1924; and the first offices in Scotland in 1928.
The Society continued to grow in size throughout the 20th century, remaining the UK's largest building society. The deregulation of the financial services industry in the 1980s saw the passing of the Building Societies Act 1986 which allowed societies greater financial freedoms, and diversification into other markets. Accordingly the Halifax acquired an estate agent to complement its mortgage business. It also expanded by offering current accounts and credit cards, traditionally services offered by commercial banks.
Halifax is a brand name of Bank of Scotland, a subsidiary of the Lloyds Banking Group. In the United Kingdom, the Halifax is used as brand for Bank of Scotland branches in England, Wales and Northern Ireland and for savings and mortgages in Scotland. Halifax is the UK's largest provider of residential mortgages and saving accounts. It is named after the town of Halifax, West Yorkshire where it retains its headquarters. Its slogan is "Always giving you extra".
Before 17 September 2007, Halifax was a separate bank. It was previously the UK's largest building society, known as the Halifax Building Society. The Halifax Building Society demutualised in 1997 becoming Halifax plc and later merged with the Governor and Company of the Bank of Scotland to form HBOS Group. In 2006, the HBOS Group Reorganisation Act 2006 transferred the assets and liabilities of Halifax plc to the Bank of Scotland and Halifax was retained as a separate brand name. On 19 January 2009, Bank of Scotland plc became part of Lloyds Banking Group following its acquisition of HBOS.
Term Life Insurance
Term life insurance or assurance is the cheapest and simplest form of life insurance. It covers you for a fixed period (known as the "term" which you can choose) and pays out a one off lump sum which you can select, if you die during the policy term.
You can add critical illness cover to some insurance plans, which will pay out on the diagnosis of a qualifying critical illness or if you die during the term of the policy. You are covered for as long as you pay the monthly premiums. If you stop paying the premiums, the policy stops. Premiums depend on a number of factors including the amount of lump sum chosen, the length of term, the applicants age, gender, and if you are a smoker.
There are two popular types of term insurance:
Type One - Level Term Life Insurance - Lump Sum Remains Fixed
Level term life insurance pays out a lump sum on the event of death during the selected term. The lump sum remains constant throughout the period of the life insurance term.
Type Two - Decreasing Term Life Insurance - Covers Mortgage Balance
Decreasing term life insurance which is also known as mortgage life insurance covers you for a set term and pays out a lump sum if you die during the policy term. Unlike level term insurance where the lump sum remains fixed, with this plan the amount of cover decreases over the term of the policy in line with the amount outstanding on a repayment mortgage. Although the lump sum decreases over the term with this type of cover the premiums remain the same.
It's a fact that life insurance cover is harder to come by the older you get. You may think you've left it too late, or it's too early to buy life insurance - that's where we can help.
We will search the UK life insurance market to find you the best life cover to suit your circumstances.
Many people don't have this simple, reassuring protection. Life insurance could be an ideal way to leave some money behind - for your partner, family or friends or to help towards funeral expenses, or outstanding bills.
Could your family afford to pay for your funeral?
None of us like to think about our funeral but taking the time now could help your family at a very difficult time. Most people underestimate the cost of a funeral and so you may be surprised just how much it can be.
Research has shown that the average cost of a basic funeral in the UK is £2,700 and is on the increase. When selecting life insurance cover it is important to make allowances for the increase in the cost of living as the amount you select now will not be worth as much in the future.
Why not take 2 minutes to complete the short form on this page to see how we can help you!
*Figures are indications of savings only and based on a £100,000 life insurance policy for a female aged 30, non smoker and without a pre-existing medical condition. The rate is based on a 25 year level term policy, sourced on a guaranteed basis. Correct as at September 2017.