Royal London (1)

Royal London life insurance review

We’ve analysed the life insurance from Royal London to help you decide if it can offer your loved ones the right protection when it matters most.

Life insurance can offer peace of mind for your family when you’re gone. But with so many types to choose from and with so many insurance providers offering this cover, we want to help you find what you need.

Royal London offers three types of life insurance: an adapted policy specifically for over-50s as well as tailored policies for those with different requirements. The insurance provider says you can add a serious illness benefit to its life insurance policy, which automatically includes a children’s benefit. Here’s what else we think you need to know.

What is Royal London?

Royal London is one of the largest life insurance and pensions companies in the UK. It was founded in 1861 and has been operating for more than 150 years.

The Royal London Mutual Insurance Society Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

What types of life insurance does Royal London offer?

Royal London offers three types of life insurance:

This cover remains the same throughout the policy term and will pay out a fixed sum up to £500,000. You might decide to choose this policy in order to pay off an interest-only mortgage.
The cash sum of up to £500,000 will reduce each month of the cover term. You might consider this cover for a repayment mortgage that will decrease over time. By the end of the term, the payout amount would be reduced to zero.
This pays out a fixed monthly payment up to £2,500 from the start of a claim until the end of the policy. You might choose this policy to provide your family with an income.
This policy will pay out a sum of money up to £10,000 upon your death. Royal London says it guarantees acceptance for UK residents aged 50-80 without asking for a medical.
This plan is only available through a financial adviser and is specifically for people with type 1 and type 2 diabetes who might struggle to find affordable life insurance.

Royal London also offers the following:

  • Whole of life plan. This plan is only available through a financial adviser and is for those thinking about inheritance tax while wishing to provide for their families or protect a business after they’ve gone.
  • Serious illness benefit (optional extra). This can be added to any life insurance policy to provide the extra protection of a single cash lump sum (serious illness payout) if you develop one of the six illnesses listed by Royal London. The payout is dependent on your age and ranges from £125,000 to £350,000. With this optional extra, you automatically have the children’s benefit, which pays out if any of your children develop one of the six serious illnesses listed.

Aside from life insurance, Royal London also offers two funeral plans that spread out the cost of a funeral with affordable payments.

  • The Traditional Plan. This plan is for anyone wishing for a more conventional funeral and funeral service organised with the help of a funeral director.
  • The Alternative Cremation Plan. This is for anyone wishing a no-fuss alternative such as a direct cremation without a funeral service.

What’s not covered?

Royal London’s life insurance policies are for protection only and have no cash value unless a claim is made.

As with all insurance, there are exclusions. These include the following:

  • Suicide
  • Death as a result of your own intentional actions
  • Any illnesses that fail to meet Royal London’s definitions
  • Two consecutively missed monthly payments
  • False or inaccurate information provided at the start of the policy

Am I eligible for Royal London life insurance?

You can apply for a Royal London life insurance policy if you meet the following criteria:

  • You are a UK resident
  • You are aged between 18-70
  • You are not a member of the Armed Forces, Army Reserve or Reservists

What factors affect the price I’ll pay for life insurance?

  • Age. Expect to pay more for a premium the older you get. The general rule of thumb for life insurance is that the younger you are when you take out a policy, the cheaper the premium is likely to be.
  • Tobacco or alcohol use. How much or how little you smoke or drink can have an impact on the cost of your premium. Due to a proven link between smoking and serious illnesses, smokers can ultimately live shorter lives and are therefore likely to pay more.
  • Cholesterol or other health criteria. Weight, cholesterol, psychiatric diagnoses and serious medical conditions can also affect your premiums. Your risk profile may not be rated as high if you can manage your condition with medication, therapy or other treatment.
  • Family health history. There’s not a lot you can do about your family’s health, but if there’s a hereditary illness in your family, your premium is very likely to increase.
  • Amount of cover needed. The greater the level of protection you choose, the higher the premium is likely to be.

Frequently asked questions


*Disclaimer: Please take reasonable care to answer all the questions honestly and to the best of your knowledge. If you don’t answer the questions correctly, your policy may be cancelled or your claim rejected or not fully paid.

The offers compared on this page are chosen from a range of products finder.com has access to track details from and are not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms ‘Best’, ‘Top’, ‘Cheap’ including variations, are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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