Life cover provided by your employer

"I've got death in service with my job.
Why would I need life insurance?"

People usually think that death in service and life insurance are the same thing – but that’s not true. Death in service cover is provided by your employer, whilst life insurance is available from an insurer.

With our products you can choose life insurance options to suit your needs, whereas death in service usually can't be changed.

What else is different?

Death in service, provided by an employer

  • Pays out if you die whilst working with an employer that provides death in service.
  • Usually offered free of charge as part of your overall benefits package.
  • If you leave the company you won’t be covered anymore, leaving your family at financial risk if you died.
  • Normally three or four times your annual salary. Would this be enough for your family to cover the mortgage, or any other bills, and maintain their standard of living?
  • Schemes are often set up under a discretionary trust, which means you might not know who will get the money if you die.
  • You can’t assign your benefits to cover your mortgage.

Life insurance, from Direct Line

  • With the polices Direct Line offers you can choose the amount of life cover you need, and the number of years you want it to run for. You’re also covered for terminal illness at no extra cost. Terms and conditions apply, please read the Policy Summary for more information.
  • Life insurance isn’t tied to your job, so you know you’re covered for the whole term of the policy even if you leave work, move to a new job, or retire.
  • If you want to leave the benefits to a specific person (known as a beneficiary), you can place your policy in trust.
  • Life insurance can be tailored to suit your needs. You could choose an amount to help pay off the mortgage, or leave money to help your loved ones maintain their lifestyle.
  • The policies Direct Line offers allow you to make changes to your policy. After certain events such as buying a new home, getting married, entering into a registered civil partnership or a salary increase as a result of a new job or promotion, you’ll be able to increase your chosen level of cover, subject to terms and conditions, without the need for any further medical questions.

For further details of the life insurance policies available, please refer to the Policy Summary.

Good to know

Direct Line's Life Insurance is provided by Legal & General

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Things you need to know about Over 50s life insurance:
Premiums stop after your 90th birthday but you still enjoy cover for the rest of your life. In the first year, if you die from natural causes we will refund any premiums, or if you die as a result of an accident, we will pay your cash sum. After the first year regardless of the cause of death we will pay your cash sum. Depending on how long you live, the total sum paid in premiums may be more than the cash sum payable on death. If you stop paying your premiums before the end of your policy your cover will stop 30 days after your missed premium and you won’t get anything back. This isn’t a savings or investment product and has no cash value unless a valid claim is made. Inflation will reduce the buying power of your cash sum in the future.

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