A lifetime payback guarantee is essentially a clause in an insurance plan which states that the insurance will pay back a minimum of what the insured has paid over the term of the insurance through their premium payments.

Lifetime payback guarantees are now more common with insurance providers in the UK but are mostly found on over 55 insurance plans.

With the lifetime payback guarantee, no customer who has an insurance plan with this clause will get back less than they have paid to the insurer when the insurance eventually pays out.

Some insurers providers offer the lifetime payback guarantee.

These include:

Smart insurance

British seniors insurance agency and more.

If the lifetime payback guarantee is an important factor for you when seeking out insurance then you should ensure you ask the insurer if they have life insurance products with a lifetime payback guarantee.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.