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Mortgage Life Insurance & Critical Illness

Trusted Life Insurance from the UK’s #1 life insurer

Should the worst happen, keeping your family home will be one of your top priorities – and you’re ours. That’s why we’ve teamed up with Legal & General, the UK’s number one provider[1] Link to footnote with over 180 years’ experience, to offer Life Insurance and Critical Illness Cover.

  • Cover that can be tailored to suit your mortgage type
  • Manage your account online, 24/7
  • With accidental death benefit, you’re covered from the second we receive your application[2] Link to footnote
  • Add Critical Illness Cover for extra peace of mind – all in one place
  • Children’s Critical Illness Cover is included for free, when you add Critical Illness Cover[3] Link to footnote
  • Our most experienced claims assessors are Samaritan trained - a small comfort at a difficult time
  • Over the past five years, over £2.9 billion has been paid to support families across the UK[4] Link to footnote

Get a Quote

Hitting ‘Get a quote’ will take you to a website hosted by our specially selected provider, Legal & General.

Clydesdale Bank acts as an introducer to Legal & General. Legal & General can’t provide a recommendation as part of their service.

Get a quote with Legal & General

Looking for advice?

To book an appointment with one of our Clydesdale Bank mortgage advisors, email us at: mortgage.query@CYBG.com

Footnotes

[1] Based on new individual Life Insurance sales in 2019 (Term & Health Watch Report 2020, Swiss Re.)

[2] The cover will start when a completed application form that you submit online or over the telephone is received. The maximum payment will be the amount of cover you applied for across all applications or £300,000, whichever is lower. Cover will last for 90 days or until Legal & General accept, postpone or decline your application or you notify Legal & General that you no longer wish to proceed, whichever is earliest.

[3] Legal & General will cover a relevant child (natural child, legally-adopted child or stepchild of the life insured) or any children had in the future if, before the end of the policy, they’re diagnosed with one of the critical illnesses covered, including Additional Cover (except for Total and Permanent Disability). They are covered from when they're 30 days old to their 18th birthday (or 21st birthday if they're in full-time education). See policy booklet for full details of what is and isn’t covered.

[4] Total claims paid by Legal & General between 2015—2019 across Life Insurance, Critical Illness Cover, Children’s Critical Illness Cover, Terminal Illness Cover and Income Protection.

Coronavirus

We understand that you may be finding it hard to pay your monthly payments right now – see how we can help.

Find out more

What is Life Insurance?

Life Insurance can help ease the financial burden on your family, should the worst happen.

If you die while covered by a Life Insurance policy, a cash sum could be paid out. You could use that cash sum to pay off your mortgage – in part or in full – or help with other every day money worries like household bills or childcare costs.

You choose the amount of cover you need and how long you need it for (usually based on the value and term of your mortgage) – on a Decreasing or Level Term basis. You can take out Legal & General Life Insurance for yourself, or under joint names.

You can choose from:

Decreasing Term

This is the most common type of Life Insurance used for protecting a mortgage. The amount you’re covered for reduces usually in line with the way a repayment mortgage decreases.

For example: If you choose £100,000 protection over 25 years, your cover would reduce to £0 by the end of the 25 years, in line with your mortgage.

If you're using in connection with a mortgage, just make sure your cover reflects any changes made to your mortgage over time (like the amount or interest rate).

Level Term

This cover provides a level amount of protection throughout the term of the policy. It is normally associated with an Interest only mortgage where the mortgage amount remains the same over the mortgage term.

For example: If you choose £100,000 protection over 25 years, you’d be covered for this amount until your Life Insurance cover ended.

If you're using in connection with a mortgage, just make sure your cover reflects any changes made to your mortgage over time (like the amount or mortgage term).

What you need to know:

  • Life Insurance isn’t a savings or investment product and has no cash value unless a valid claim is made.
  • You won't be covered if your payments aren’t up to date.
  • You won’t be covered if within the first year of the policy you die as result of suicide or intentional and serious self-injury, or an event where in our reasonable opinion, you took your own life.

View Legal & General Life Insurance Policy Booklet (PDF, opens in a new window)

View Legal & General Life Insurance with Critical Illness Cover Policy Booklet (PDF, opens in a new window)

View Legal & General Life Insurance with Optional Critical Illness Cover Policy Summary (PDF, opens in a new window)

View Legal & General Guide to Critical Illness Cover (PDF, opens in a new window)

Add Critical Illness Cover, for complete peace of mind

If you’re diagnosed with a life-changing illness, you’ll have enough on your mind without having to worry about paying the mortgage. At an extra cost, you can choose to add Critical Illness Cover when you take out Life Insurance, for complete peace of mind – all in one place.

Please note, Critical Illness Cover cannot be added to your policy at a later date.

What is Critical Illness Cover?

Critical Illness Cover eases the financial burden placed on you and your family in the face of a life-changing illness. Meaning you can spend more of your time on what’s important – you.

Critical Illness Cover will pay out a lump sum if you’re diagnosed with or undergo a medical procedure for any one of the 38 specified critical illnesses covered by Legal & General during the term of your policy.

See the ‘What’s covered’ section below for the full list. Or view all the definitions and information in our Guide to Critical Illness Cover (PDF, opens in a new window) and Policy Booklet (PDF, opens in a new window).

Looking for advice

To book an appointment with one of our Clydesdale Bank mortgage advisors, email us at:

mortgage.query@cybg.com