Don’t let the Halifax take you for a £1,320 ride

One the UK’s largest mortgage lenders charges its customers up to 33% more for essential protection than some of the cheapest deals around. And, it is not the only bank taking advantage. Recent research1 shows that 54% of people could be falling prey to overblown charges for life cover bought from their mortgage providers.

The good news is that reviewing your policy could save you more than a thousand pounds. I spent a few minutes surfing some of the major mortgage providers websites and comparing their quotes with those available from our life broker partner here. The results were predictable.

Protect your family for up to 35% less today
Provider	Monthly premium	Total cost	Our best buy saves you
Our best quote	£9.02	£2,706	NA
Nationwide	£13.30	£3,990	£1,284 (32%)
Halifax	£13.42	£4,026	£1,320 (33%)
Scottish Widows	£13.92	£4,176	£1,470 (35%)
All figures based on £100,000 level term cover for a 35-year old male non-smoker in normal health. Term of policy: 25 years.

All figures based on £100,000 level term cover for a 35-year old male non-smoker in normal health. Term of policy: 25 years.

Get a low cost life cover quote today

In all three cases above the figures come from the mortgage providers’ own websites. They show that if you bought life cover with your mortgage from a high street bank you could easily save yourself 35% of the cost of your protection.

So, whether you have existing cover or you have been thinking about getting some, there are big savings on offer if you shop around. Our online quote service makes it very easy to do just that.

Act now to lock-in low rates for life
The really good news is that premiums for life cover are still very low. This means you can lock-in a guaranteed premium today for the duration of your policy (normally 25 years or so) by taking action now. If you put the decision off then you could find yourself many hundreds of pounds out of pocket as there are signs that the period of cheap life cover is coming to an end.

So don’t delay another moment. Take out cover before prices rise – or sudden disaster finds you or your family unprotected. Safeguarding your loved ones against the fickle finger of fate won’t stay low cost forever.

Get a low cost life cover quote today

¹ Research done by TNS.

- Got a £250 or £500 Child Trust Fund voucher from the government? - Click here to see my Child Trust Fund Best Buys - More about my ‘best buy’ child trust funds - More information about CTFs

 

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