Launched in 1985, Direct Line began life selling car insurance. Nowadays it provides a large portfolio of insurance products to millions of customers, including home, pet, travel, life, over 50s life, van, landlord, small business, breakdown, premier insurance and car finance online or over the phone.
Life insurance will help protect your loved ones financially should you die during the length of the policy. You can take out a single or joint policy with Direct Line, provided by AIG, with fixed monthly payments if you don’t make any changes. Your beneficiary will receive a lump sum to help pay off things such as a mortgage, debts, bills and expenses. You can apply for life insurance up to the age of 75, and existing Direct Line customers receive a 7% discount. Direct Line offer two main types of life insurance:
Level Term Life Insurance – you choose the amount you want paid out. This stays the same throughout the length of your policy, as do your monthly payments, unless you decide to make changes.
Decreasing Term Life Insurance – this is designed to cover a repayment mortgage. Your amount of cover will reduce each month, to reach zero when your insurance ends. This works in the same way as the outstanding amount on a repayment mortgage with an annual interest rate of 8%.
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Over 50s Life Insurance
Direct Line’s Over 50s Life Insurance, provided by AIG, is designed to pay out an insurance amount when you die, providing you’ve had the policy for more than two years. From £5 a month you’ll be insured for the rest of your life, but will only make fixed monthly payments until your 90th birthday. UK residents aged between 50 and 85 (81 if you smoke) are guaranteed to have their Over 50s Life Insurance accepted, without any medical or health assessments.
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Mortgage Life Insurance
Direct Line does not offer mortgage life insurance.
Critical Illness Cover
Critical illness cover is a life insurance add-on which pays out if you’re diagnosed with certain illnesses or medical conditions – Direct Line’s Critical 3 Policy – covering heart attack, cancer and stroke. Critical 3 is optional, it comes at an extra cost and can only be bought at the same time as your life insurance.
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Whole Life Insurance
Direct Line does not offer whole of life insurance.
Income Protection Insurance
Direct Line does not offer income protection insurance.
Direct Line offers a large range of insurance products including car, home, business, travel, pet and landlord insurance.
Direct Line Reviews and Ratings
Online reviews for Direct Line Insurance are generally poor. Long time customers have complained that policies have not paid out when needed, and that communication is poor and that their online systems difficult. Many however, have reported a smooth, easy process and good, responsive service.
- A well-known brand offering a large portfolio of insurance products
- Defaqto 5 Star rating
- An informative website with decent supporting documentation
- Online virtual assistant available
- Existing customers receive a 7% discount
- Competitive cover from £5 per month
- Policy provided by AIG
- 99% of claims paid out
- Guaranteed acceptance for over 50s cover
- Medical or health assessments not required
- Gift card worth up to £180 for new customers
- Poor customer reviews even from long time customers
- Critical illness cover not available as a stand alone product
- Income and mortgage protection cover not available
- Whole of life insurance not offered
- First point of contact via a virtual assistant which many people do not like
Website: Direct Line