Santander is encouraging parents to consider life insurance as a safeguard for children and household stability, offering cashback deals and quick online policies amid rising costs.
Santander is writing to customers as the new school year approaches with a reminder that back-to-school costs are only part of the financial picture. In emails to parents, the bank says life insurance can help provide protection for children and peace of mind if the worst were to happen. The promotion is part of a wider push around its protection products, which are underwritten by Aviva Life & Pensions UK Limited.
The offer can include £100 paid directly into a customer’s account, with a higher £150 cashback for Santander mortgage customers, Select customers and holders of current accounts in the Santander Edge range. According to Santander’s terms, cashback is paid once per customer, or to the first named policyholder on qualifying joint policies, and only after 280 days if the policy is still active. The bank also says the offer can be withdrawn at any time.
Santander says its life cover can be arranged online in minutes and starts from £5 a month. The bank offers single and joint policies, with cover designed to pay out a lump sum on death or, in some cases, after a diagnosis of a serious illness. Santander also says customers with medical conditions may still be able to apply, though they may need to provide health information and, in some cases, undergo a medical examination at the bank’s expense.
The wider protection range also includes over-50s life insurance, mortgage life insurance, critical illness cover and family and lifestyle protection. Santander says these products are meant to help with funeral costs, mortgage payments or longer-term household expenses, depending on the policy chosen. The offer comes as many families face extra spending at this time of year, from uniforms and shoes to lunches and school supplies, making protection products part of the same household budgeting conversation.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
