Guaranteed life insurance

Guaranteed Life Insurance

Saga Guaranteed Life Insurance allows you to help your loved ones at a stressful time.

Call to speak to an adviser
0800 206 1824 

Mon – Fri 9am-5pm

Saga Guaranteed Life Insurance is provided by VitalityLife.

 
Get a quote
Call to speak to an adviser
0800 206 1824
Mon – Fri 9am-6pm

How does it work?

Saga Guaranteed Life Insurance, provided by VitalityLife, is exclusively for the over 50s, and pays out a fixed cash lump sum when you die, providing you have held the policy for one year.

Please note inflation could reduce the buying power of the cash lump sum you leave behind and the plan has no cash-in value. Depending on how long you live you may pay in more than you get back. You may cancel your policy at any time, but you will not receive any money back unless you cancel within 30 days of your policy starting, in which case we will refund any premiums paid.

Key aspects

  • Guaranteed acceptance for 50-75 year olds living in the UK. No medical questions required.


  • The full cash amount will be paid out if you die after just 12 months of taking out a policy. If you die within the first year, all the premiums paid will be returned, unless you die as a result of an accident, in which case the full guaranteed cash lump sum will be paid.

  • If you choose the Funeral Benefit Option provided by Golden Charter, you will have access to the UK's largest network of over 3,300 local, independent funeral directors, most of whom have been serving local communities for generations. You will also be able to express any personal wishes you or your family may have regarding your funeral.
  • Our claims process is simple and your payout is not subject to probate. This means your loved ones have less to worry about, and the cash lump sum is with them quickly at a time when they need it most.

  • The younger you are when you purchase a policy, the higher the payout your loved ones receive will be. On average your loved ones could receive an additional £182 if you purchase before your next birthday (based on the average age of a Saga Guaranteed Life Insurance customer and the average monthly payment).

  • From the anniversary of your policy following your 90th birthday there are no further premiums to pay, but your cover will continue for the rest of your life.

What are the benefits?

  • Guaranteed acceptance for 50-75 year olds, regardless of any existing medical conditions.

  • Premiums start from just £10 a month, the equivalent of 33p a day (based on an average 30 day month).

  • We guarantee that the amount paid out will never go down, even if your health changes. Please note that as the guaranteed cash lump sum is fixed, inflation will affect what it is worth in the future.

  • No need to answer any health questions or complete a medical examination.

  • You choose the monthly premium you wish to pay and we guarantee never to increase your premium.

  • You’ll receive £40 M&S vouchers as a welcome gift. Your vouchers will be sent within 28 days of paying your third monthly premium.

3 reasons to choose Saga Guaranteed Life Insurance

1. Guaranteed Acceptance

If you are aged between 50 and 75 and live in the UK, you can take out a Saga Guaranteed Life Insurance policy regardless of any existing medical conditions. 

Premiums start from £10 a month, that's the equivalent of 33p a day (based on an average 30 day month). Pay-out amount and premiums are both fixed for life (depending on how long you live you may pay in more than you get back), and you'll be eligible for full payout after just one year.

2. Funeral Benefit Option

We know Funeral costs are one of the reasons customers take out our policy so we've teamed up with Golden Charter, the UK's largest independent funeral provider*, to ensure that the proceeds from your cash lump sum payout are placed with a Funeral Director straight away so your loved ones don't have to worry about covering the cost. 

Any surplus funds will be returned to your estate so there will be no loss to your family and in addition we will contribute a further £250 towards the cost of the funeral if you choose this option, at no extra charge.


*Source: Golden Charter's own sales data and Funeral Planning Authority half year statistics to end of June 2014.

3. Serious illness and bereavement support service

This service is provided by RedArc, a Personal Nurse Adviser Service, who provide practical advice and emotional support to people when they need it most.

Serious illness support

If you are diagnosed with a serious health condition such as cancer, cardiac problems or a stroke, you and your family will be entitled to support from your own Personal Nurse Adviser. Your dedicated Personal Nurse Adviser will be on hand to provide much needed practical advice and emotional support for as long as you need them. If appropriate, you may also receive additional help in the form of specialist therapies or counselling and these will be arranged for you free of charge.

Bereavement support

Of course, in the event of bereavement, this free, confidential service will automatically be offered to your spouse, partner and children, who may well benefit from the right practical advice and emotional support at a difficult time.

How it can help


There are several reasons why you might choose this type of plan:

  • Anyone aged between 50 and 75 will be accepted and no medicals are required.
  • You can choose the monthly premium you wish to pay and the premium is guaranteed not to increase, regardless of your age, health or occupation.
  • The cash sum paid out will never go down, even if your health changes.

Another common use for the Guaranteed Life Insurance plan is to help pay for a funeral. Our policies give you the option to tailor the plan to cover this specific need.

The Funeral Benefit Option

When it comes to arranging your funeral, it pays to plan ahead.

Covering the cost of your funeral can be an additional worry for your family at an already difficult time, so planning ahead can help give them peace of mind. 

A 2014 report* shows that the average cost of a UK funeral is now £3,590 - an increase of 80% over the last nine years - and if this trend continues, the average cost of a funeral in 4 years’ time will have increased to over £4,489.

Consequently, Saga has teamed up with Golden Charter, the UK’s largest independent funeral plan provider**, to enable you to use the proceeds of your Guaranteed Life Insurance plan towards your funeral costs.

*Source: 2014 Cost of Dying report carried out by YouGov. £3,590 figure includes funeral director costs, cremation or burial fees (including doctor’s fees) and minister costs.
** Source: Golden Charter's own sales data and Funeral Planning Authority half year statistics to end June 2014.

Read More

Long standing ties with local funeral directors

Golden Charter works with the UK's largest network of over 3,300 local, independent funeral directors, most of whom have been serving local communities for generations. Golden Charter is a Registered Provider by the Funeral Planning Authority.


Helping you through the planning process

By allocating your policy to one of these local funeral directors, you and your family stand to benefit in a number of ways.

Firstly, on your behalf, Golden Charter will select a funeral director that is close to your home, from within their nationwide network. Secondly, a Personal Choices form will be sent out with your Golden Charter Welcome Pack, allowing you to express any personal wishes you or your family may have regarding your funeral.

And finally, the appointed funeral director will contribute an additional £250 towards your funeral expenses - at no extra cost.

By choosing the Funeral Benefit Option, the proceeds of your policy will be paid direct to Golden Charter instead of being paid to your estate. This means the funds will be immediately available to the appointed funeral director to help cover your funeral expenses. If for any reason you are not happy with the choice of funeral director you can contact Golden Charter, after receiving your Welcome Pack, to discuss a suitable alternative.



Read Less
Things to consider

  • If your guaranteed cash lump sum is more than the cost of the funeral, the remaining balance will be returned to your beneficiaries. If the lump sum value is not enough to cover the full costs, the person arranging your funeral will be responsible for paying the difference.
  • You can add this option to your plan at any time and then remove it at a later date if you wish, but you will not be able to add it again.
  • If you have more than one Guaranteed Life Insurance policy, you will only be able to select the Funeral Benefit option on one of your policies.
Case study
icon-note

Leaving a legacy

Fictional scenario

Mr Smith has been diagnosed with a number of medical conditions, which started him thinking about the small debts he and his wife had and how his wife would handle them if he died.

He had been unable to find a life insurance plan which will cover him or wasn’t too expensive due to his medical conditions.

He took out Saga Guaranteed Life Insurance because it guaranteed acceptance, did not factor in medical conditions and allowed him to select a monthly premium which fitted within their monthly budget.

With this peace of mind, Mr Smith was able to enjoy life with his wife, safe in the knowledge that there would be a lump sum immediately available to her to help pay their debts when he was gone.

Case study
icon-note

Funeral Planning

Fictional scenario

Whilst attending a dear friend’s funeral, Mrs Jones saw how stressful it was for her friend's family to pay for and plan the funeral she would have wanted.

Mrs Jones didn’t want her children to have to experience the same situation and decided to do something about it. As she didn’t have a lot of money to put aside and wanted the money to be available to her children before the funeral, she bought a Saga Guaranteed Life Insurance plan, allowing her to pay fixed monthly payments.

By selecting the free Funeral Benefit Option which included an additional £250 contribution to the funeral expenses, Mrs Jones was able to select a local funeral director, and express her personal wishes for the funeral in advance.  

Am I eligible?

• If you’re aged 50-75 you are guaranteed to be accepted
• Even if you have existing medical conditions you will be accepted
• If you want a plan with a fixed monthly cost and wish to provide your loved ones with a lump sum which isn’t tied to probate.

What else may be relevant?


£40 M&S vouchers welcome gift
As a thank you for taking out a Saga Guaranteed Life Insurance policy, we will send you £40 of Marks & Spencer vouchers after we have received your third monthly premium.


Free £250 contribution towards your funeral
Don’t forget you can choose the FREE Funeral Benefit Option when you apply in order to get an extra £250 contribution towards the cost of your funeral.

Included Serious illness and Bereavement support
With a Saga Guaranteed Life Insurance policy we offer you and your family access to a free and confidential service offering practical and emotional support at a time of need.

Important information

To find out more about the Saga Guaranteed Life Insurance features and benefits, please click on the PDF's below:

  • For more information regarding the key facts of the policy, please read the Policy summary
  • For more information regarding what is included in a Saga Guaranteed Life Insurance plan, please read the Policy provisions.

Before taking out a policy, please note the following:
  • Saga Guaranteed Life Insurance is provided by VitalityLife
  • Depending on how long you live you may pay in more than you get back
  • Inflation could reduce the buying power of the cash lump sum you leave behind
  • If payments are not paid when due, all cover will cease
  • You may cancel your policy at any time, but you will not receive any money back unless you cancel within 30 days of your policy starting, in which case we will refund any premiums paid.

Who is the provider and how are they regulated?

Saga Guaranteed Life Insurance is underwritten by Vitality Life Limited (registration number 03319079) which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and provides and manufactures benefits under the plan.  The plan is administered by Vitality Corporate Services Limited (registered no. 05933141), trading as VitalityLife, which is authorised and regulated by the Financial Conduct Authority, and distributes and services the product and issues the documentation. Registered offices for both companies at 3 More London Riverside, London, SE1 2AQ.  Both companies are registered in England and Wales.

VitalityLife will introduce customers who select the Funeral Benefit Option to Golden Charter. Golden Charter is a registered provider with The Funeral Planning Authority.

Saga Personal Finance is a registered trading name of Acromas Financial Services Limited (‘AFS’), which is authorised and regulated by the Financial Conduct Authority. AFS is registered in England and Wales (registered no. 3023493). Registered office: Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE.

You may also be interested in