Skandia Protect

Skandia Protect is a flexible protection plan which allows you to tailor your insurance for your needs. You choose any combination of life cover or critical illness cover or both.

You also choose how long you want the cover for. You can choose a fixed term (for example, to provide protection when your children are growing up), rolling term (renewable ten-year cover that can last indefinitely) or whole life (cover for the rest of your life).

Benefits

The policy can pay:

• a cash sum on death (life cover)

• a cash sum if you suffer one of the listed critical illnesses, or undergo one of the listed treatments or surgeries (critical illness cover). The children of any person covered under the policy are automatically covered, at no extra cost, from the age of 30 days to 18 years.

Flexibility to change your cover as your lifestyle changes, without further medical evidence.

Extended cover, to include, at an extra cost:

• Total Permanent Disability benefit*

• Premium protection benefit

• Cover reinstatement option*

*not available for guaranteed whole life cover.

Cover for you and your partner in one plan, either as separate policies or jointly.

Guaranteed premiums, either for as long as your cover lasts, until you change the amount of cover, or for ten years at a time if sooner (see 'rolling term').

Critical illness benefits

Skandia Protect includes several benefits not available with most critical illness cover.

• Low-grade cancer cover for prostate cancer at an early stage and for mastectomy due to ductal carcinoma in situ. These types of cancer are not covered by critical illness cover.

• Serious accident benefit.

• Surgery benefit.

Risks

Skandia Protect provides insurance only. It does not have a cash value or a surrender value at any time. So, if you stop paying premiums, your cover will stop.

If you make a claim and you don't provide us with the information we ask for, we will not pay out.

Certain conditions may be excluded from cover.

Who is eligible to take out Skandia Protect?

UK residents. Any person covered under the policy must also be UK resident.

Minimum and maximum ages

Life assured age ranges	Minimum age at outset	Maximum age at outset
Life cover	16	85
Critical illness cover	16	60
Applicants must be aged 18 or over.

Maximum age at the end of the plan

For a fixed term the maximum age at the end of the term is 100 for life cover or 70 for critical illness cover.
There is no maximum age for rolling term and whole life cover.

Minimum premiums

Minimum monthly premium: £25
Minimum yearly premium: £250

Minimum cover limit

There is a minimum cover limit of £1,000 for each policy in the plan.

Term

Fixed term gives insurance for a specific number of years (whole years only). For life cover, the term must be between five and 35 years. For critical illness cover, the term must be between five and 25 years.

Rolling term gives guaranteed insurance for life with an initial term of ten years. Just before the end of the term, you can renew the insurance ('roll the term') for a further ten years. You can 'roll' the term as often as you like without the need for further medical evidence.

Rolling term is available for life cover and critical illness cover.

Whole life cover gives you guaranteed insurance for life, and is available for life cover.

Guarantees

Fixed term – Skandia guarantees not to increase premiums unless you change your cover.

Rolling term – Skandia guarantees premiums for ten years at a time. When you 'roll' the term at the end of the ten-year period, or when you increase your cover, Skandia will tell you how much your premium will be for the next ten years.

Whole life for life cover – the premium for your selected cover is guaranteed for life, unless you change your cover.

Charges

We do not charge any administration or service fees for changing your policy details.

This web page is only intended as a general introduction to Skandia Protect. Full details of the product can be found in 'Your guide to Skandia Protect', available from your financial adviser.

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Information on this website is not intended for Hong Kong residents. Information on this website about Skandia Group Companies is intended for UK residents only, unless it relates to Royal Skandia, Skandia Life Norge or Suomen Sivuliike. Skandia Group companies do not offer investment advice and no information on this website should be construed as such.

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