Nationwide Life Insurance

Updated: Every six months. Details correct at the time of publication - October, 2008.

Nationwide has rapidly expanded from its basis as a building society and in 2007 it completed a merger with Portman. The company continues to offer a wide range of financial service options, and is established as one of the leading life insurance brands in the UK – its life insurance is supplied by Legal & General (except over 55s cover).

The company offers varieties of life insurance designed to meet a range of needs, each paying out a cash sum. This includes general life insurance (also known as ‘Nationwide level term assurance’ or ‘Nationwide life assurance’), mortgage life insurance (decreasing term), family life insurance and over 55s life cover.

The Nationwide mortgage life assurance policy includes a 5% discount for buying online and there are two options available – mortgage level term with the amount of cover remaining the same throughout the term, and mortgage decreasing term where the cover drops in line with your outstanding repayments. Nationwide also offers level term assurance not linked to a mortgage with payments beginning at just £6 a month depending on your circumstances and terminal illness cover included for plans over two years long.

The Nationwide family life insurance plan could pay a monthly benefit until the 21st birthday of your youngest child to help secure their future. It’s over 55s cover is supplied by AXA Sun Life and can be taken out by anyone aged 55-75. In addition Nationwide offers critical illness cover that insures against 35 illnesses.