Scottish Widows Life Insurance
Intro to Scottish Widows
Scottish Widows were established in 1812 and employ around 3,000 people. They are based in Edinburgh. Scottish Widows became part of Lloyds Banking Group in 2009. They don’t just have a Life Insurance business, they also offer pensions solutions.
The business was formed when some Scotsmen sat down for coffee in Edinburgh and discussed a fund for securing provisions for widows, sisters and other female relatives of their fundholders so that they would not have suffer from financial uncertainty and poverty caused during the Napoleonic Wars.
They sponsored the Olympic Games in 2012 and employ Olympic athletes Roger Black and Sarah Storey.
How many customers do Scottish Widows have?
Scottish Widows have almost 6 million customers.
What are Scottish Widow’s claim pay-out rates?
- For Life Insurance, Scottish Widows paid out 99% of all claims made in 2018, amounting to £135.9 million;
- For critical illness cover, Scottish Widows paid out 94% of all claims made in 2018, amounting to £72.5 million.
What awards have Scottish Widows won?
Scottish Widows have been awarded a 5-star Defaqto rating for their critical illness cover and are also 5-star rated from the Financial Adviser Services Award 2018.
Is Scottish Widows Life Insurance good?
Protect Line are an impartial brokerage, so this means we won’t ever give you any advice and will only provide facts. In regards to Scottish Widows, we have provided factual information within this page so that you can make a decision when it comes to choosing your Life Insurance provider.
How do I get Scottish Widows Life Insurance quotes?
We can offer you quotes for Scottish Widows Life Insurance – all you need to do is fill out our online quote form, have a chat with our friendly and professional team and you’ll then have quotes from multiple different insurers to choose from.
How do I pay for Scottish Widows Life Insurance?
You can pay for Scottish Widows Life Insurance like you would any other policy – this is usually via direct debit and set up when you take out your policy.
How much does Life Insurance from Scottish Widows cost?
Scottish Widows Life Insurance can vary in cost and is based upon personalised factors such as:
- Your age
- Your health
- Your lifestyle choices
- Whether you’re a smoker
- The length and amount of cover