Barclays Life Insurance Info
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Barclays Bank Life Insurance
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Life insurance lets you leave a lump sum behind should you pass away within the policy term.

Money never replaces a family member, but it can help knowing that it won't be a worry.

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Barclays Bank Life Insurance Info

Barclays plc is a British multinational investment bank and financial services company, headquartered in London, England.


Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, and investment management.


Barclays traces its origins to the goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, several banks in London and the English provinces, including Backhouse's Bank and Gurney's Bank, united as a bank under the name Barclays and Co.


Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first cash dispenser.


Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in 2008.


Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.


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Barclays Bank Life Insurance Offers


Your Guide to Barclays Simple Life Insurance


This policy is provided by Legal & General Assurance Society Limited.


What Is Covered?


You will be covered if before the end of the policy: you die, or you are diagnosed as being terminally ill, and in the opinion of your hospital consultant and their medical officer, the illness is expected to lead to death within 12 months


They will pay out your amount of cover in full once. After this happens, the policy will end and you’ll no longer have any cover.


Your Premiums

Your premiums will remain the same during the length of the policy unless you make any changes


Age Limits

Barclays Bank Life Insurance - The minimum age to take out a policy is 18. The maximum age for buying a policy is 74.


Minimum length of the policy is 5 years. Maximum length of the policy is 50 years.


Your Barclays Bank policy must end before age 90.


Your Cover


Barclays Bank Level Cover


Your amount of cover will stay the same unless you change it.


If the policy is to help repay a mortgage, you need to ensure that your amount of cover matches your outstanding mortgage.


The policy may not completely pay off your outstanding mortgage, if you change the mortgage you have in any way and you don't adjust your cover to match your new arrangements.


Barclays Life Insurance for Mortgage Holders


Barclays Life Insurance * Maximum age for buying a policy is 74. Minimum length of the policy is 5 year. Maximum length of the policy is 50 years but, Your policy must end before age 90.


Barclays Decreasing Life Insurance * Maximum age for buying a policy is 74. Minimum length of the policy is 5 years. Maximum length of the policy is 50 years but, Your policy must end before age 90.


Barclays Life Insurance with Critical Illness Cover * Maximum age for buying a policy is 64. Minimum length of the policy is 5 years. Maximum length of the policy is 40 years but, Your policy must end before age 70.


Barclays Decreasing Life Insurance with Critical Illness Cover * Maximum age for buying a policy is 64. Minimum length of the policy is 5 years. Maximum length of the policy is 40 years but, Your policy must end before age 70.


The minimum age to take out a policy is 18.


*Guaranteed premiums


Your Cover


Barclays Bank Level cover


If you choose level cover, your Your amount of cover will stay the same unless you change it.


If the policy is to help repay a mortgage, you need to ensure that your amount of cover matches your outstanding mortgage.


The policy may not completely pay off your outstanding mortgage, if you change the mortgage you have in any way and you don't adjust your cover to match your new arrangements.


Barclays Bank Decreasing cover


If you choose decreasing cover it is often used to help protect a repayment mortgage. Therefore the amount of cover reduces roughly in line with the way a repayment mortgage decreases.


You need to ensure that your amount of cover matches your outstanding mortgage. The policy may not completely pay off your outstanding mortgage, if:


you change the mortgage you have in any way and you don’t adjust your cover to match your new arrangements.


the interest rate on your mortgage becomes higher than the rate applied to the policy. The rate will be shown in your Personal Quote or the Policy Booklet.


Critical Illnesses Covered


If you choose Barclays Bank Critical Illness Cover, you will be covered for the illnesses shown in the policy booklet. For a claim to pay out, your illness must meet Legal & General’s definition.


It must also be verified by a consultant at a hospital in the UK, who is a specialist in an area of medicine appropriate to the cause of your claim as in some instances cover may be limited. For example: some types of cancer are not covered, and to make a claim for some illnesses, you need to have permanent symptoms


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Barclays Bank Life Insurance Rates

Critical Illness Cover

Critical illness cover is a type of insurance that pays out a tax-free lump sum if you're diagnosed with, or undergo surgery for, a critical illness specified in the terms of the policy. Tell me more...

Barclays Bank Life Insurance Calculator

Mortgage Protection

As you pay off your mortgage over time, the amount of life cover you would get if the worst were to happen goes down – just as the outstanding balance of your mortgage does. Tell me more...

Barclays Bank Life Insurance Quotes

Over 50s Life Cover

Taken out between the ages of 50 and 80, paid out as a lump sum and can be used for financial commitments when you pass away, such as funeral costs, outstanding bills. Tell me more...

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How much life insurance do I need?

The amount of life insurance you take out should ideally be enough to cover your mortgage repayments and the needs of your family if you were no longer around. The average cover amount is £140,000.

Do you need life insurance to take out a mortgage?

Life insurance isn’t a legal requirement, but most mortgage lenders will ask you to take out appropriate cover. You don’t need to take out life cover from your lender – you can buy it elsewhere.

What will life insurance cost?

The cost of life insurance can be as little as £5 per month, but your premiums will depend on your individual needs and circumstances, your age, if you smoke could affect the overall cost.

Do I need life insurance?

Life insurance is for your peace-of-mind, so you know your family will be financially protected in the event that you're no longer around. Life insurance is a form of security to provide for dependants such as children or spouses.

What is term insurance?

Term insurance is the most common type of life insurance and pays out only if you die within the term. For example, you might take out a 25-year policy so your family could claim if you were to die within 25 years.

When should I buy it?

Whatever your age, as an adult it’s always a good time to start thinking about life insurance. In particular, people with loans, mortgages and financial dependants should consider getting a life insurance policy.