EasyCover - Commonly Asked Questions

What is EasyCover?

EasyCover is a life insurance plan that lets you choose cover over 10 to 25 years and provides a fixed cash sum if you die during this time.

Cover must end by age 70, which means you need to be 44 or younger to take out a 25 year Plan.

Why should I consider EasyCover?

Coping with the death of a loved one is a distressing time. EasyCover is an easy way to help provide financial support for your family when they need it most.

How much cover does it give me?

Up to £150,000

How much does it cost?

Your monthly premium will depend on the amount of cover you choose, how long you want to be covered for, whether you smoke, your sex and your age.

Do I need to have a medical?

No. Provided you're a UK resident aged 18 to 59, and can answer 'no' to our 4 questions, you don’t need a medical examination, or to see a doctor to apply for EasyCover.

What else does it cover?

If you are diagnosed with a terminal illness, with a life expectancy of less than 12 months, before the final year of your cover, EasyCover will pay out then to help you and your family cope with a difficult time.

If you die in a motor accident while travelling legally as driver or passenger, or within 90 days from injuries sustained in that accident, we will pay out an additional £50,000 on top of your fixed cash sum.

If you die as a fare-paying passenger either by road or on a boat, train or plane, or within 90 days from injuries sustained while a passenger, we will pay out an additional £500,000 on top of your fixed lump sum.

Please see the Terms and Conditions including the Policy Summary for further information on these benefits, exclusions and limitations.

How are claims dealt with?

Should you die during the term of the Plan, your loved ones can call us on 08457 322 223 or write to us at AXA Sun Life plc, PO Box 1810, Bristol BS99 5SN to let us know they’ll be making a claim. We can then help by stopping the collection of premiums for the policy until the claim has been processed. To process the claim, AXA Sun Life will need:

• the name and date of birth of the policyholder;
• the original death certificate; and
• evidence of the beneficiary’s entitlement to the policy proceeds.

We may also need:

• a copy of the Policy Schedule and Endorsements;
• and a copy of the policyholder's Will if there is one.

If these documents are not available, the person making the claim should contact our policy helpline on 08457 322 223.

If you are diagnosed with an advanced or rapidly progressing incurable illness where, in the opinion of an attending consultant and confirmed by our Chief Medical Officer, your life expectancy is less than 12 months, EasyCover will pay the fixed cash sum at this stage rather than on your death. This benefit does not apply if the illness is diagnosed in the last year of the Plan. If you are diagnosed with a terminal illness, please call our policy helpline on 08457 322 223, to request a claim form.

Does the Plan have a cash-in value?

No. The Plan has no cash-in value so if you cancel your Plan or stop paying your premiums, your cover will stop and you'll get nothing back. You need to be totally comfortable that you can keep up your premiums when you take out the Plan.

What about tax?

The fund we invest your premiums in is subject to investment income and capital gains tax which is deducted from the fund by AXA Sun Life. Any money paid out from your Plan will currently NOT be subject to capital gains tax or income tax. Tax legislation may change in the future.

The amount paid out on your death will normally form part of your estate, so may be subject to inheritance tax, unless you write your Plan in trust. Tax information is based on our understanding of current law and HM Revenue & Customs practice. How taxation could affect you will depend upon your individual circumstances.

Can I cancel the Plan?

You have 30 days from the day you receive your policy documents during which you can cancel your Plan and have any premiums paid refunded in full.

After that, you can cancel your Plan at any time by notifying us in writing. Remember, if you do cancel, your life cover will stop and you'll get nothing back. As long as you continue to pay your monthly premiums, your Plan cannot be cancelled by us for any reason.

Who are AXA Sun Life plc?

AXA Sun Life plc are one of the UK’s leading providers of life cover and the Guaranteed Over 50 Plan is the most popular Plan of its type*. Our extensive experience spanning over 25 years has enabled us to develop a range of life cover solutions to meet the differing needs of our customers.

We’re proud that, today, over 655,000** people enjoy the peace of mind that our Plans can offer.

* Whole of life plans sold directly to the public. Source: ABI statistic, Jan - June 2008
** As at 16th July 2008