Scottish Widows - Protection

ironman1

Hi,

I recently signed up to Scottish Widows after a review and am now paying £42 a month to cover me and my family. The policy pays out for death and critical illness etc. Even if something, God forbid, happens to the little one.

I have read a lot of negative things about these types of insurances but for around £10 a week it gives me peace of mind that my family would be looked after/Mortgage paid off if anything happened to me.

Can anyone tell me if they do anything similar and is it a waste of time and money? It is still fairly expensive but pays out at around £200k if the worst happens

dunstonh

I have read a lot of negative things about these types of insurances but for around £10 a week it gives me peace of mind that my family would be looked after/Mortgage paid off if anything happened to me.

Much of the negative you read is from people that don't understand it or havent changed their opinion since the ABI changes in classifciation and improved claims handling brought in a number of years ago. The article on this site for example is a complete disgrace.

Can anyone tell me if they do anything similar and is it a waste of time and money? It is still fairly expensive but pays out at around £200k if the worst happens

all insurance is a waste of time unless you claim on it. You are more likely to claim on a CI policy than life assurance. yet you dont see negativity on life assurance.

_Andy_

Sound pretty good value for £200k cover

stephenni1971

I would strongly suggest you review it.

Any client I have had with it I have managed to find a superior product for a reduced cost.

kingstreet

I agree. Since Scottish Widows became Lloyds in-house provider its product has gone downhill, while its premiums have gone the other way.

It's highest Defaqto star-rating, for the "protection for life" contract is just three stars.

One of my clients has just been "persuaded" by Lloyds Bank, to cancel the five star Scottish Provident cover I arranged for him, in favour of Scottish Widows' three star protection for life.

I can't think why... :mad: