Smart life insurance offers cover from just £3.54 but are…
Royal London life insurance is a product offered by the wider Royal London Group who provide a variety of financial services such as pensions, income protection and investments to name a few.
Their life insurance policies are obtainable directly from Royal London, through an independent financial advisor or through an FCA regulated broker.
At Reassured we can compare a number of other market leaders to ensure you secure the best deal.
By using our services, we can benchmark Royal London policies against other market leaders to ensure you secure the best deal.
Continue reading our Royal London review to see if they’re the best insurer for you…
When you purchase an over 50s policy directly from Royal London, you’re eligible for a free gift card and 2 months free payments.
To qualify for 2 months free payments, you must buy your policy directly from Royal London with a minimum monthly payment of £7.
After you have paid 6 monthly payments you will be eligible to receive the £100 Argos voucher.
While a free gift card is a nice added bonus it shouldn’t be the deciding factor when purchasing life insurance.
What’s more important is finding cover that meets all of your needs for a cost-effective price.
Royal London offers the choice to claim cashback on your life insurance via websites such as quidco.com and topcashback.co.uk.
However, it’s important to note that how much money you could get back from taking out a life insurance policy should not be the priority.
Obtaining affordable cover that meets your needs to protect your loved ones is what’s most important.
You can take out any life cover policy from Royal London if you’re a UK resident aged 18 – 70 (other than an over 50s plan) and are not a member of the armed forces or reserves.
Although, if looking for an over 50s plan or you're an active or retired service person, we may still be able to arrange you cover from alternative providers.
With Royal London, your policy can be as short as 5 years or it can cover you for up to 50 years, however, the cover must end by the time you are 80.
You can get cover of up to £500,000 on a single policy, or a total of £500,000 across all Royal London life insurance policies.
Royal London offer a range of cover options including:
At Reassured we can compare the same type of policies with other leading life insurance providers to help you find the best deal.
With level term life insurance, the lump sum pay out remains the same (or level) throughout the lifetime of the policy.
This means that no matter when you pass away your loved ones will receive the amount that was agreed when you first took out your policy.
You’ll be covered for a specific period of time (the term) and a pay out will only be made if you pass away within the term.
If you don’t pass away within the term, your policy will expire and no pay out will be made.
As with other providers used by Reassured, terminal illness cover will be included in your policy.
Level term cover from Royal London can be purchased from just £7 a month (23p a day).
Although, at Reassured we can arrange cover elsewhere from as little as 20p-a-day.
To secure a great deal on level term life insurance, call Reassured today.
With decreasing term life insurance, the amount paid out reduces throughout the lifetime of your policy.
As with level term you’ll be covered for a specific period of time and a pay out will only be made if you pass away during the term.
If you don’t pass away during the term, no pay out is made and your policy expires.
This type of cover is ideal for paying off a repayment mortgage.
Royal London decreasing term policies reduce at the rate of a mortgage with a fixed interest rate of 7%.
To compare decreasing life insurance quotes from a range of other providers, get in touch today.
Whole of life insurance is a form of life assurance as it provides you with lifetime cover.
Therefore, it guarantees a pay out to your loved ones when you pass away.
Whole of life insurance is an ideal option for those who are wanting to leave an inheritance for their family.
Unfortunately, whole of life cover from Royal London is only available to purchase through an independent financial advisor.
However, you could use an FCA regulated broker, like Reassured, to compare multiple whole of life policies from alternative providers to ensure you’re getting the best deal
Royal London provides over 50s plans for those aged 50 – 80, with no medical information required.
This makes an over 50s plan an ideal choice for those who are later on in life with less than favourable health.
At Reassured we are able to secure over 50s life insurance cover up to the age of 85 years old, if you are a UK citizen.
Due to the unknown risk you pose, most insurers include a waiting period on their over 50s plans (usually 12 – 24 months).
This means that if you pass away due to natural causes during this time, the full pay-out will not be made, although all premiums paid in will be returned.
With a Royal London over 50s plan the waiting period is only 12 months, meaning you’ll be fully insured after the first year of your policy.
Royal London offer the option to reduce your monthly payments to just £3.95 a month if you become unable to pay a higher monthly premium (your pay out amount will be adjusted accordingly).
Compare multiple over 50s plans from other providers using an FCA regulated broker service such as Reassured.
Family income benefit is an alternative type of life insurance.
Rather than a lump sum pay out when you pass away, your family will be provided with monthly (tax-free) income payments.
Family income benefit from Royal London can pay out up to £2,500 per month and £500,000 in total.
This is to help compensate for any lost income due to your passing, allowing your family to maintain their lifestyle.
Diabetes sufferers can often struggle to obtain life insurance with standard premiums due to the higher risk that they pose.
With Royal London Diabetes insurance, the monthly premium will never increase and you’ll be rewarded with reductions in premiums if your condition gets better.
You’ll also benefit from Helping Hand, a help and advice service.
To understand your options for obtaining life insurance if you suffer from diabetes, read our diabetes life insurance page or contact our team today.
Mortgage protection (or mortgage life insurance) is a life insurance policy taken out with its purpose being to cover your mortgage when you pass away.
While Royal London don’t specifically offer ‘mortgage protection’ their decreasing term life insurance works in the same way.
Royal London decreasing term life insurance policies reduce at the same rate as a 7% fixed interest rate repayment mortgage.
Alternatively, you can take out a level term policy to pay off an interest-only mortgage as the amount paid out remains fixed.
To compare quotes to protect your mortgage via level or decreasing term life insurance, get in touch today.
Royal London offer the ability to take out all of their life insurance policies (excluding over 50s plans) on a joint basis.
Joint life insurance covers two lives simultaneously (sometimes referred to as couples life insurance).
You’ll fill out one application form, have one contract and pay one premium each month.
This means there will only be one pay out (usually after the first death).
Once the pay out has been made the surviving partner will need to find new cover for the remainder of their life.
To determine if joint life insurance is the right solution to suit your needs, contact our team today for all the information you need to make an informed decision.
Critical illness cover provides you with an early lump sum pay out if you’re diagnosed with a critical illness and given less than 12 months to live.
Royal London critical illness covers 47 illnesses (including cancer, heart attack, stroke and children’s illness).
They also cover 20 additional illnesses (including 13 early forms of cancer) with a pay out of 25% of the cover amount (up to £25,000).
All plans come with Helping Hand support service which provides a dedicated nurse who can help at a difficult time.
Critical illness can also be added to a term policy bought through Reassured. To receive your free quotes, contact us today.
When you take out critical illness cover with Royal London you also have the option to cover your children as well as yourself.
It can be added to or removed from your policy at any time and if you make a claim for your child it will not affect your cover.
As well as critical illness and terminal illness cover, Royal London also offer a serious illness benefit.
Serious illness benefit offers extra cover (at an additional monthly cost) for you and your children if you’re diagnosed with one of the following illnesses and survive 30 days after your diagnosis:
Depending on your age you can take out up to £350,000 of cover.
Children’s benefit means that your children (older than 30 days) will be covered for the same illnesses throughout the term.
For the children’s benefit 25% of the serious illness benefit will be paid out, with a maximum of £25,000.
Making a serious illness claim will not affect your life insurance policy unlike a critical or terminal illness cover claim.
This can be added on to a Royal London life insurance policy.
A waiver of premiums means that you don’t have to worry about your monthly payments if you become unwell, unable to work and unable to pay your premiums.
Royal London will pay your premiums for you. You can choose to defer your payments for a period of your choice (up to 52 weeks) after this Royal London will pay your premiums.
Like with most UK life insurance providers, Royal London offers the option to write your policy in trust.
Writing your policy in trust involves naming a person you trust (trustee) to manage your policy once you have passed away.
After you have passed away your trustee will be responsible for distributing your pay out as per your wishes.
When you write your life insurance in trust it detaches your policy from your estate, meaning it will not be subject to inheritance tax.
Having your policy written in trust also helps to avoid the probate process, which can delay your funds being paid out to your loved ones.
At Reassured we have a team who can provide all the help you need to write alternative policies arranged by us in trust.
Royal London level term cover can be taken out for just £7 a month.
Over 50s premiums can be reduced to as little as £3.95 a month, although your pay out amount will be adjusted accordingly.
Typically the price paid for life insurance will differ between people as everyone has different needs.
The price you pay for you monthly premium will depend on unique factors such as:
To compare life insurance from other UK leading insurance providers, you can use an impartial FCA regulated broker service like Reassured.
You can cancel your Royal London life insurance policy at any time.
If you cancel your policy within 30 days of taking the policy out, you’ll be refunded any premiums that you’ve paid.
You can cancel your policy after 30 days but you’ll not be refunded any premiums.
To make a claim with Royal London you will need to have the following information to hand:
Whoever is making the claim will also need to provide contact details so they can be notified if any other information is required.
In some cases Royal London will send a claims form which will need to be completed and sent back to them.
You can make a claim by calling 0345 266 5400.
As soon as Royal London have all the correct documents and the claim has been verified, they will begin to make payment.
Payments usually clear within 3 – 5 working days and will be sent via BACS transfer.
In 2018, Royal London paid out 99% of claims helping more than 38,000 customers.
This means that it’s highly likely that a claim will be successful if the worst were to happen.
Royal London will only not pay out if your premiums are not up to date, a non-disclosure is found, your term has finished or your claim doesn’t meet the definitions stated in your plan.
Royal London has been protecting families for over 150 years and have built up a good reputation in the financial services world.
They have a range of cover options to suit a variety of needs and have been rated 71% in overall customer satisfaction.
To find out if Royal London is the best option for you it’s a wise idea to compare quotes to see if you’re getting the best deal.
You can purchase a life insurance policy directly from Royal London or a financial advisor.
Alternatively, you can compare other life insurance policies from some of the UK's leading providers using an FCA regulated broker service, like Reassured.
By comparing quotes you can save money on your life insurance policy and secure the best deal.
Reassured have helped to protect over 1,000,000 families across the UK and our award-winning service is completely fee-free to use.
Get in touch today and get quotes today.
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry