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What is Dividend Life?
Dividend Life is a transformative, modern life insurance product from Assura + Protect. A term life and critical illness policy providing Better Cover, Longer”, A Dividend Life policy offers double the level of cover of traditional life insurance, It combines Term Life coverage with Multi-Claim Critical Illness protection, plus additional life empowering features and benefits to provide you with Better Cover, Longer. Offering both Level Term and Decreasing Term policies, the highest amount of protection that you can purchase is up to £1,000,000 and your specific amount of cover may vary based on your age, health, and Assura + Protect’s underwriting criteria. You can have a Dividend Life policy for a maximum term of 50 years. The earliest age you can take out a policy is 18 years old. The latest age that you can take out a policy is 70 years old, and the latest your policy term can end is the day before your 90th birthday. Dividend Life policies have fixed premiums for the entire policy term, unless you choose to change your cover. Benefit payments are tax free and can be used for any purpose. Dividend Life has been designed to ensure a standard of living or your dependants, such as continued living costs, school costs, and university costs. Benefit payments can also be used to pay off any outstanding mortgages or loans, in addition to funeral costs. It’s not just about safeguarding the future of your loved ones; it’s about empowering your legacy. Underwritten and issued by Family Assurance Friendly Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Dividend Life offers unique features that set it apart from the competition.
200% Multi-Claim Critical Illness Cover
Traditional life insurance policies that include critical illness cover often limit critical illness claims to one per policy and cover usually stops after the first claim is paid. They also may not provide substantial benefits for major conditions. Dividend Life with 200% Multi-Claim Critical Illness Cover benefit covers you for up to 3 critical illness claims for major conditions per policy, paying out a lump sum if you are diagnosed with specific critical illnesses listed in your Dividend Life policy. Covering serious conditions such as cancer, HIV, cardiovascular conditions such as heart attacks, neurological conditions such as stroke, and disabilities such as loss of limbs, a Dividend Life policy allows you to make up to 3 critical illness claims over the life of the policy – for a similar price to single life policies and traditional critical illness policies. A Dividend Life policy with term life and critical illness cover ensures that you are prepared for multiple critical illness scenarios. The total benefit amount for the first two successful major critical illness claims is 150% (i.e. 75% of the sum assured at the time of the first Claimable Event and 75% of the sum assured at the time of the second Claimable Event, this being the date on which you are diagnosed with the condition you are claiming for). The benefit amount of the third successful major critical illness claim is 50% of the sum assured at the time of the Claimable Event. Where a death, terminal illness, or permanent disability claim is related to a major critical illness condition for which Assura + Protect has already paid a claim, the death claim will be paid at 25% of the sum assured. For Decreasing Term Assurance (DTA), the benefit paid, at the Claimable Event date, is the adjusted policy sum assured calculated using an annual 8% discount rate. Imagine receiving up to 200% of the sum assured if you suffer a critical illness. Assura + Protect’s Multi-Claim protection ensures you are prepared for life’s unexpected challenges. Critical illnesses can disrupt your life and finances. With 200% Multi-Claim Critical Illness Cover, you are better equipped to handle medical expenses, lifestyle adjustments, and more. Whether it’s cancer, a heart condition, or a neurological disorder, Assura + Protect’s 200% Multi-Claim Critical Illness Cover ensures that you are prepared. Think beyond yourself. By securing 200% Multi-Claim Critical Illness coverage, you are creating a lasting legacy for your heirs. Imagine the relief your family will feel knowing they have financial support during critical illness situations. For further information about how Dividend Life with 200% Multi-Claim Critical Illness Cover can help you, watch Amanda’s video case study.
Additional Partial Covers
A Dividend Life policy also provides additional partial covers. These do not count towards your maximum major condition benefit payments. These include: Low Grade Cancers. Single benefit of the lower of £5,000 or 25% of your policy sum assured if diagnosed with low-grade breast, prostate, or thyroid cancer. Children’s Critical Illness Cover. A lump sum of the lower of £25,000 or 50% of the sum assured at the Claimable Event date if the child is diagnosed with any of the illnesses covered under your Dividend Life policy. (Maximum of 2 child benefits per single policy. Maximum of 4 child benefits per dual policy). Accidental Hospital Benefit. A one-off payment of £5,000 per policy will be made is you are hospitalised for more than 28 days.
Guaranteed Insurability Options
During the term of your Dividend Life policy, you can increase your Dividend Life cover level, without further medical checks or underwriting up to a(n):
+ Additional 50% of your original sum assured.
+ Maximum of £150,000 additional cover.
+ Maximum of 3 times over the life of a policy If:
+ You get married or enter a registered civil partnership.
+ You have or legally adopt a child.
+ You increase your mortgage with a new house purchase or home renovation.
+ Your earnings increase with a new job or promotion.
In addition to 200% Multi-Claim Critical Illness Cover, a Dividend Life policy also includes 200% Dual Life Cover, the modern alternative to traditional Joint Life insurance.
200% Dual Life Cover
Dual Life Cover, part of Dividend Life, is a game-changer in life insurance. Unlike traditional joint life policies that cover only the first life, Dual Life cover extends protection for both you and your partner’s lives, providing a modern alternative that prioritises comprehensive coverage for you both. Imagine the peace of mind knowing that if you or your partner passes away, the survivor remains fully covered providing financial stability. This offers a safety net for couples and families and ensures that no-one is left vulnerable. Assura + Protect’s 200% Dual Life Cover is superior to traditional joint life cover because it prioritises comprehensive coverage, flexibility, and individual empowerment.
Another key feature of Dividend Life is Doctor-on-Demand which provides 24/7/365 virtual GP Services.
24/7/365 Virtual GP Services with Doctor-on-Demand
Your health matters. Imagine having a trusted doctor whenever you need them. With Doctor-on-Demand, Dividend Life policyholders have access to 24/7/365 virtual GP consultations with a UK-based GP anytime, anywhere in the world. It’s like having a personal healthcare companion in your pocket. Whether you’re at home, work, or travelling, you can connect with a qualified GP via phone or video chat. Convenient same-day GP consultations are available for prescriptions, sick-note and / or specialist referrals. Dividend Life policyholders have access to unlimited GP consultations that are, on average, available within 6 hours of booking. Before booking an appointment, you can also review GP profiles and select your preferred consultant. Need a prescription? No problem. Using Doctor-on-Demand, a GP can provide prescriptions for common medications. These prescriptions can be emailed to your chosen pharmacy saving you time and hassle. Doctor-on-Demand ensures that you receive timely medical advice and guidance. Whether it’s a minor ailment or a health concern, you can consult with a GP without delay. By addressing health issues promptly, you can focus on what matters most – family, work, and life goals. A Dividend Life policy is not only about financial protection. It also considers your wellbeing. Purchase a Dividend Life policy today and experience the convenience of Doctor-on-Demand. Doctor-on-Demand is just one of the many life empowered membership benefits that Dividend Life from Assura + Protect offers.
Life Empowered Membership Benefits
In addition to Doctor-on-Demand, your Dividend Life policy allows you to experience a range of other life empowered membership benefits, namely:
Annabel Rewards
Save 000s with exclusive cashback deals and retail discount vouchers from over 300 renowned retail partners. Annabel Rewards offers enticing discounts from leading brands including Harrods, Selfridges & Co, Mr Porter, and Just Eat. With uncapped usage, you can achieve significant savings across a wide range of brands. Imagine saving up to £2,500 annually for a family of four. With Annabel Rewards. there are no additional costs, usage limits, or premium minimums. It’s about maximising value without compromising on quality.
Annabel Concierge
Annabel Concierge is your dedicated personal assistant, designed to help you with everyday tasks and make your life easier. Whether you need help finding a plumber, booking a dog walker, arranging childcare, or booking a well-deserved holiday, Annabel Concierge is there for you. It’s part of Assura + Protect’s commitment to enhance your life beyond insurance. Access this valuable service through the Annabel app and empower your daily life with personal assistance. Connect with Annabel Concierge via phone, email, or chat during weekdays from 8am to 8pm, and on Saturdays from 10am to 2pm.
Newsstand
Another valuable resource, Newsstand provides a curated selection of high-quality content that helps you stay informed and up to date on current events. Offering access to informative news articles from leading globally recognised journals and periodicals such as The Economist, Financial Times, Forbes, Wall Street Journal, Bloomberg, and many more, members can keep abreast of current events. Whether you’re interested in business insights, finance trends, or world affairs, Newsstand provides a curated selection of high-quality content for you consume. With Newsstand you are not limited by location or time. Access articles from your favourite publications whenever you want. Whether you’re commuting, travelling, or relaxing at home, dive into insightful articles with just a few taps. Newsstand can be accessed within the Annabel app. It’s part of Assura + Protect’s commitment to enhancing your life beyond insurance. Enjoy the convenience of staying informed while benefiting from the other features that the Annabel app offers. Being well-informed is essential for making wise decisions. Explore Newsstand within the Annabel app and empower yourself with knowledge. Dividend Life from Assura + Protect truly empowers your legacy. Dividend Life isn’t a term and multi-claim critical illness product that focuses solely on the present. Its goal is to secure your family’s future. Imagine the relief of knowing that your loved ones are financially protected, even when you are no longer around. With Assura + Protect, you can trust that you are getting a reliable and reputable product in Dividend Life, backed by a company that is dedicated to your financial wellbeing. By investing in Dividend Life, you are creating a lasting legacy. It’s not just about leaving ensuring your loved ones are financially protected. It’s also about helping create opportunities for your loved ones when you are gone. Tailor your life insurance coverage to fit your unique personal needs and circumstances. Your Dividend Life policy can adapt to your life’s different chapters. Beyond insurance, a Dividend Life policy enhances your life. From Annabel Rewards to Concierge services, Assura + Protect is committed to your wellbeing. With its innovative features of 200% Multi-Claim Critical Illness Cover; 200% Dual Life Cover; Doctor-on-Demand with 24/7/365 GP Services; and Life Empowered Membership Benefits with Annabel Rewards, compare Dividend Life cover, benefits, and premiums to other leading national U.K. life insurers. Once you have done that, request a quick quote and take the first steps towards empowering your legacy and a more secure and prosperous future.
