Find the answers to your frequently asked questions about Greenbee Life Cover.
- What does the plan provide?
- Why do I need life cover?
- Which insurance company provides Greenbee Life Cover?
- How long will the application take?
- Can I apply for Greenbee Life Cover online?
- What cover is offered?
- Are there any age limits?
- Can it cover my partner as well?
- How much will the cover cost me?
- When I apply, how much personal information will I need to provide?
- What is waiver of premium benefit?
- Can I change my cover during the term?
- What happens when I decide to accept the cover offered?
- Are there any times when a claim may not be paid?
- Is the cash sum liable to tax?
- What about inheritance tax?
- What happens if I stop my payments?
- Does the plan have a cash-in value?
- Where can I see the full plan terms and conditions?
- What if I need to make a complaint?
- How can I pay for my Greenbee Life Cover?
What does the plan provide?
The plan will pay a cash sum on death during the cover term or on diagnosis of a terminal illness where death is expected within 12 months and at least 18 months before the end of the cover term. If the cash sum is paid, the plan will end.
Remember, inflation reduces the spending power of any money paid out in the future.
Remember, inflation reduces the spending power of any money paid out in the future.
Why do I need life cover?
Life cover is designed to help protect your loved ones financially if you die. The cash sum can be used to pay outstanding debts (e.g. mortgages) or provide financial security for your family and dependents. If there are people who depend on you financially, you'll probably need to consider life cover. Remember, inflation reduces the spending power of any money paid out in the future. You should regularly review your cover.
You are likely to already have insurance for you home, car and valuable possessions. It is equally important to ensure that you have sufficient life cover.
You are likely to already have insurance for you home, car and valuable possessions. It is equally important to ensure that you have sufficient life cover.
Which insurance company provides Greenbee Life Cover?
Greenbee Life Cover is provided by Friends Provident Life Assurance Limited, who are responsible for assessing your application, and administering your plan once it is set up.
Friends Provident is a UK FTSE-100 financial services group that has been providing financial protection to customers since 1832. The quality of Friends Provident's protection products and their customer service is reflected by the variety of industry awards received.
Friends Provident is a UK FTSE-100 financial services group that has been providing financial protection to customers since 1832. The quality of Friends Provident's protection products and their customer service is reflected by the variety of industry awards received.
How long will the application take?
It depends on how much information is needed. Cover can be offered after 30-40 minutes on the phone with one of our advisors. However, should your application need to be reviewed by an underwriter, or should we require further information, such as a doctor's report or a medical examination, the application will inevitably take longer.
Can I apply for Greenbee Life Cover online?
Though you can still get a quick quote on greenbee.com, applications for Greenbee Life Cover can no longer be made online. Instead, customers wishing to purchase Life Cover with us can either call us on 0800 916 6840, or arrange a callback from one of our advisers.
We're confident that by speaking to an advisor any questions you may have can be answered directly and no important information is missed out of your application.
We're confident that by speaking to an advisor any questions you may have can be answered directly and no important information is missed out of your application.
What cover is offered?
We offer two kinds of Life Insurance: level cover, where the cash sum that will be paid out stays the same throughout the cover term (which can be from 5 to 40 years), and decreasing cover, whereby the cash sum that will be paid out decreases over the cover term (which can be from 10 to 40 years) normally in line with the outstanding amount of your mortgage.
You can also choose between single life, which covers just one person, and joint life, which covers you against something happening either to you or to your spouse or civil partner.
You can also choose between single life, which covers just one person, and joint life, which covers you against something happening either to you or to your spouse or civil partner.
Are there any age limits?
You must be aged 18 or over when you start the plan and your cover must end before you reach the age of 85. You must be under 55 to include waiver benefit.
Can it cover my partner as well?
Yes. You can set up your plan jointly with your partner so the cash sum is payable on the first death or the first diagnosis of a terminal illness during the cover term. If the cash sum is paid, the plan will end. You can include waiver benefit on one or both lives.
How much will the cover cost me?
This will depend on:
- the cover amount you need
- how long you need it for
- whether you include waiver benefit or not
- whether you smoke or use nicotine products or not
- your age and sex
- your medical history, occupation and pastimes
When I apply, how much personal information will I need to provide?
During the application process, you will be asked about your personal and family medical history, your occupation and your pastimes. Your answers will be used in assessing your application, and you will need to answer all questions truthfully, accurately and completley to the best of your knowledge. If you do not, Friends Provident will be legally entitled not to pay a claim and to cancel the policy.
What is waiver of premium benefit?
This is an optional benefit available at extra cost. You can include it from the start if you're aged under 55, in good health and not in a higher-risk occupation. It keeps your payments going for you if illness or accidental injury stops you from working for more than six months. If you're not in full-time employment, it depends on your ability to do certain basic tasks instead.
Can I change my cover during the term?
Yes. The plan allows you to increase or reduce the cover level and the cover term. Increases may be subject to your age, health, occupation and pastimes at the time. Changes are also subject to the plan terms and conditions at the time.
If you're under the age of 50 and in good health at the start, your plan will include options to increase your cover or extend the cover term without further evidence of health, occupation or pastimes for certain events. For more details, please see the key facts or policy conditions.
If you're under the age of 50 and in good health at the start, your plan will include options to increase your cover or extend the cover term without further evidence of health, occupation or pastimes for certain events. For more details, please see the key facts or policy conditions.
What happens when I decide to accept the cover offered?
If you start your cover, you will receive a confirmation schedule in the post. For your cover to continue, you must check the information in the schedule is accurate and complete and return the reply slip confirming this within 30 days.
Are there any times when a claim may not be paid?
Friends Provident won't pay a claim unless you tell them about it within one month of disablement for a waiver of premium claim and within three months of disablement for a terminal illness claim. They won't pay a waiver of premium claim if it is due in any way to HIV/AIDS or war. Friends Provident will not pay a claim if they specifically exclude it by applying special terms to your plan or if you fail to answer all questions truthfully, accurately and completely to the best of your knowledge when applying or making a claim.
Is the cash sum liable to tax?
Under current tax rules, you're not liable for income tax or capital gains tax on your plan unless you sell it to another person.
What about inheritance tax?
If you die during the cover term, the money paid out on your plan will form part of your estate for inheritance tax purposes. Once you've started your plan, you may therefore want to get professional advice about placing it in trust to help with inheritance tax planning.
What happens if I stop my payments?
If you miss a payment, your plan will continue for 30 days. If you don't pay it within this time, your plan will stop and you won't get anything back.
Does the plan have a cash-in value?
No.
Where can I see the full plan terms and conditions?
These are available online here.
When you take out a plan, you'll be sent a copy of the generic terms and conditions for Greenbee Life Cover, and a schedule that sets out all the information about the plan that is individual and specific to you.
What if I need to make a complaint?
In the first instance, you should write to the Customer Relations Manager at Greenbee Life Cover, PO Box 1550, Salisbury SP1 2TW.
How can I pay for my Greenbee Life Cover?
You can pay for Life Cover by paying a monthly premium. You will need your bank address, bank sort code and account number.
Call us free on
0800 916 6840
Monday to Friday 8am-8pm
Or alternatively, arrange a time for us to call you.