Review: Smart Life Insurance

David Woodfield By David Woodfield


Smart Life Insurance offers a range of straightforward and flexible life insurance policies designed to cover a range of eventualities.

It is the result of a major partnership between Neilson Financial Services and Scottish Friendly, a financial services group founded in 1862.

Smart ranked well in our guide to the best life insurance policies.

You can get a quote at the Smart Life Insurance website.

Overview of healthcare cover provided by Smart Insurance in the UK

Smart Insurance provides two types of life policy: life insurance and guaranteed life insurance. They also provide personal accident insurance (which is designed for different events although does include a payment in the event of accidental death).

Life insurance cover is designed to help your family cope with mortgage and living expenses in the event of your death. It is available to customers aged 18 to 64 and can provide up to £750,000 of cover depending on your age. No medical tests are required, and you’re covered for death by accident and any cause (although self-inflicted deaths are excluded for the first year). They give two options – either the level policy (premiums are fixed for the term you choose – up to 40 years) or an age-based policy (premiums increase with your age). The age-based policy also includes an automatic 5% increase to your benefit amount each year, for 10 consecutive years from the start date of your policy, and you’re able to add optional cover to your policy including children’s cover and critical illness cover.

Guaranteed life insurance is designed to help loved ones with funeral and final expenses – so benefit amounts are lower than in the Life cover above. Guaranteed life insurance is available to UK residents aged 30 to 79 and offers between £2,000 and £15,000 worth of cover, depending on your age. Cover for death from any cause is only covered after the policy has been in force for one year, but you will be covered for accidental death from day one. Smart insurance offer the same ‘age-based’ or ‘level’ options as with their general life insurance policy. The age-based policy includes an automatic 5% increase to your benefit amount each year, which is applied on your policy anniversary each year for 10 consecutive years from the policy start date or up to and including age 74, whichever is sooner. Customers with this policy are also able to add optional accidental serious injury cover.

Finally, Smart Insurance also offer a personal accident insurance product. This is different to the products above because whilst it covers a broader set of events including serious injury as well as death, it only covers accidental events (i.e. you will not be covered for death by any cause, but are protected in the event of death by accident). Personal accident insurance is open to UK residents aged 18 to 69, and provides between £30,000 and £500,000 worth of cover.. The policy includes an automatic 5% increase to your benefit amount each year, for 10 consecutive years from the start date of your policy, and you have the option to add children’s cover if you wish.

Unlike Smart Insurance’s life and guaranteed life insurance plans, personal accident insurance does not cover you for whole of life, and expires when you reach the age of 74.

As with many life assurance products, there is no cash-in value at any time, and depending on how long you live and the product you buy, you may pay more in than you get back.

All Smart Insurance policies include a complimentary will kit.

What are the acceptance criteria for Smart Life Insurance cover?

Smart insurance allow a broad set of ages to apply as described in the section above. In addition, for the Life Insurance product, Smart say they have no medicals and no blood tests, just some health and lifestyle questions. For Guaranteed Life, acceptance is (as the name suggests) guaranteed for 30-79 year-olds – there are no questions about your health. For personal accident insurance, acceptance is guaranteed for 18-69 year olds, again with no health questions.

What happens in the event of the diagnosis of a terminal illness?

Smart’s Life Insurance policy will provide 100% payment of the benefit amount in advance, in the event of a terminal diagnosis (defined as a life expectancy of less than 12 months) for a policyholder. Note that the same feature is not advertised for Guaranteed Life Insurance and does not apply for the Personal Accident product.

How much does Smart insurance cover cost?

The cost of Smart life insurance cover will depend a great deal on your individual circumstances. For example, your age, health status and the amount of cover you require. However, all policies include a ‘Smart Cashback’ element, where after the 12th successful monthly payment you will receive 10% of the premiums you’ve paid so far.

Find out how it compares with other providers in our guide to the best life insurance policies.

What do Smart Insurance reviews by customers say?

According to online reviews portal, 335 customers have rated Smart Insurance 99% for service, while reviewers on have scored the company 4/5, with 100% saying they’d recommend the brand to a friend.

What do Smart Insurance reviews from the experts say?

According to Health Insurance Daily’s review of Smart Insurance UK, the policies are easy to buy, offer a good range of options and attractive incentives, such as the free will kit and 10% cashback. The publication does note, however, that Smart Insurance may be more expensive than other providers, and that age-based premiums can become very expensive at older ages.

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