Santander Life Insurance

Santander Life Insurance. Fact! If you don't compare them against the market now it could cost you £1000's. Compare the whole life insurance market.

Santander Life Insurance

Santander is a well-respected high street bank that focuses on simple retail and commercial banking.

However, as well as offering banking services they also provide a range of protection insurance plans such as level term life insurance, decreasing term life insurance, critical illness cover and income protection. Their protection products are provided by Bright Grey which is a division of Royal London. So you know that the underwriter is a highly respected insurer who will be around if the policy pays out.

They are well known as the largest bank in Europe and indeed is one of the largest banks in the world when compared in terms of market capitalisation. Along with most Canadian bank, they have arguably been the most successful bank during the recent economic struggles. They have benefit from a more vanilla business model, that largely revolves around lending and deposits, and they have avoided most of the toxic assets that was the undoing of a number of UK banks.

It doesn’t only deal in the life insurance sector but the bank also deals in the other sectors like car insurance sector, travel insurance sector, home insurance sector and mortgage payment protection insurance. The wide range of products offered is a reflection of the significant growth the business has gone through, not only organic growth, but in the UK largely through acquisitions. In the UK popular high street banks and building societies such as Alliance & Leicester, Abbey and Bradford & Bingley have been incorporated into the Santander brand.

History

The bank was founded in the 1857 and the headquarters are based in Cantabria Spain. The bank has shown phenomenal growth and now covers most of the globe, they have not only focused on fast growing emerging markets but have also entered a large number of mature markets such as the UK. The domain of operations surrounds Europe, Latin America, Singapore, Hong Kong, Africa and the United States of America.

The bank has shown equally great success in all areas of operations, and has managed to coordinate the growth of retail, commercial, corporate and their growing global markets business. The bank is serving its customers for more than 150 years but the significant growth has been over the last 20 years.

Types of life cover

There are about two main Life insurance policies offered: the Lifestyle protection plan and the personal protection plan cover.

The lifestyle protection plan is available for your family as a lump sum cash payment in case of your death or in case of your terminal illness. It's easily affordable for just as low as £5 per month at the time of writing. This protection plan can be used for the period of 5 to 40 years and you are also able to choose single as well as joint life cover for you and your family. If you are the breadwinner in the family and have financial dependents, then cover such as this can provide financial support in case the worst does happen and you are no longer around to provide for your loved ones.

The Personal protection plan is available to provide financial protection if you are diagnosed with any pre-agreed critical illness. Always check the small print to make certain that you know what is and what is not covered. Again, if you are the breadwinner you should consider taking out a policy similar to this. This would provide financial support when you need it most, and will no doubt be adapting to new circumstances.

Review

On the whole this is a highly respected life assurance provider, that has come out the other side of the economic crisis stronger. On the whole customers are happy with the policies available and their prospective price points. You can see the related reviews on the review centreand can also post your opinion and experience of their customer service and policies.