Norwich Union Life Insurance

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Norwich Union Life Insurance

Norwich Union Life Insurance offers customers a number of different policies, including mortgage life insurance, accidental death benefit and general life insurance (also known as ‘Norwich Union life assurance’ or ‘Norwich Union term assurance’).

A Norwich Union life insurance policy from Norwich Union is designed to pay out a guaranteed cash lump sum in the event of death, terminal illness and if included, critical illness. The cost of a life insurance policy will depend on your personal circumstances, although the Norwich Union website states that they are available for as little as £5 per month.

In the event of a successful claim, the life insurance policy will come to an end. In order to be eligible for a life insurance policy you must be aged between 16 and 89 at the start of the policy, although the age limit will differ for policies that include critical illness. The maximum life insurance cover is set £500,000.

A mortgage life insurance policy is also offered. This is a decreasing term plan designed to help you pay off the outstanding amount in the event of your death or a terminal illness, with the amount being reduced in line with your outstanding loan debt.

The accidental death benefit on offer from Norwich Union will provide you with £20,000 worth of cover at a cost of just £1.99 per month and is, along with all other cash benefits, free from income tax. You will also receive free gifts, ranging from watches to organisers, when taking out the option of accidental death benefit.

Norwich Union is part of the Aviva group - the sixth-largest insurance group in the world and the largest insurer in the UK with over 60,000 employees providing assistance for the company’s 30 million customers worldwide.