Nationwide Building Society

Nationwide Building Society

September 11, 2012 10:58 ET

Discounted Lifestyle Protection Cover With Nationwide

New discount available on Lifestyle Protector

LONDON, UNITED KINGDOM--(Marketwire - Sept. 11, 2012) - Nationwide Building Society is today launching a new 10 per cent discount offer on Lifestyle Protector, an innovative and flexible short-term income protection policy. The discount is available to new customers and existing Nationwide customers who hold other products with the Society, such as mortgages, current accounts, savings and credit cards.

The offer is only available through Nationwide branches and will run until 10 November 2012. Anyone receiving a quote for Lifestyle Protector during this period will receive a 10 per cent discount on their monthly premiums for the first year of their Lifestyle Protector policy. As long as a customer receives their quote during the offer period, they will remain eligible for the discount even if they decide to purchase the policy after the 10 November 2012.

Underwritten by Pinnacle Insurance plc, Lifestyle Protector is a short-term income protection policy that can be tailored to people's own individual circumstances, whether they need to protect their income against unemployment, accident and sickness or any combination of these. Cover is individually tailored to meet customer needs - ensuring they pay only for the precise benefits they need.

Lifestyle Protector provides customers with a monthly income that can be used to cover a number of monthly outgoings ranging from mortgage or rent repayments to mobile phone bills and gym memberships.

Those with Lifestyle Protector also have the flexibility to change the chosen benefit amount, period or level of cover at any point during the term of the policy. And, if customers decide that the policy is no longer needed, Lifestyle Protector can be cancelled at any point without penalty.

Defaqto, the independent financial research company, recognises the comprehensive product features and benefits of Lifestyle Protector by giving it a five star rating.

To be eligible for Lifestyle Protector, customers need to be aged between 18 and 65 and live in the UK. At the start of the policy they need to have been working at least 16 hours per week with the same employer for six continuous months (including self-employed and fixed-term contractors).

Martyn Dyson, Nationwide's head of general insurance, said: "Lifestyle Protector offers one of the most flexible solutions on the market, with options to ensure that our customers get just the right amount of cover for their individual circumstances and pay only for what they need. As always, we strive to give our customers the best possible cover at the best possible rate so, with this discount offer, they can be assured they have bought a quality product they can rely on at an even more competitive price than usual."

Notes to editors:

  • Applications are required for all products. Further details of terms and conditions are available on request.
  • Nationwide's Lifestyle Protector is underwritten by Pinnacle Insurance plc.
  • Terms, conditions, exclusions and limitations may apply.
  • More information on Lifestyle Protector, including examples of typical monthly premiums, can be found here: http://www.nationwide.co.uk/insurance/protection/lifestyle_protector/overview.htm.

Other key features of Lifestyle Protector

  • Monthly benefit paid for up to 12 months
  • Cover: up to 60% of gross monthly income and within that limit up to £2,500 per month (£2,000 for unemployment cover when taken on its own)
  • Life benefit of up to £30,000 as standard
  • People can start receiving payments just 15 days after being off work

About Nationwide Building Society

Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 15,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

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