Easy to deal with and knowledgeable, according to customers
Low maximum cover levels
Life insurance provides peace of mind for your family when you’re gone, but it can be hard to know what type of cover is best for you.
Royal London offers two types of life insurance policy, as well as income protection and serious illness cover. Find out how Royal London life insurance works in our review.
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.
Royal London life insurance policies are underwritten by The Royal London Retention, Munich RE and Score.
What types of life insurance does Royal London offer?
Royal London offers two levels of life insurance policy, as well as specialised cover for those over 50 or looking to get income protection. Customers also have the option of adding optional critical illness.
Range of optional extras, including serious illness cover
Specialised over 50s cover
Drawbacks of Royal London life insurance
Does not offer whole-of-life insurance
Low maximum cover limits
Royal London life insurance exclusions
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
How do I make a claim with Royal London life insurance?
If you wish to make a claim, you will need to contact Royal London by calling 0345 266 5400, or by post to:
Customer Services PO Box 409 Royal London House Alderley Road Wilmslow SK9 0EG
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 affects the cost of Royal London 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
Royal London life insurance costs from £7 per month, but this will vary depending on a number of factors including your age and health, and the level of cover you need.
No, serious illness benefit cannot be added to a policy once it has already begun.
Royal London lists the following as its six serious illnesses that are covered by the serious illness benefit (although conditions do apply): Cancer, heart attack, stroke, multiple sclerosis, benign brain tumour and dementia.
You can reduce your monthly payments, but keep in mind that this will reduce your payout. You can also reduce the duration of your policy, but it cannot be to a term of less than five years. It’s also worth noting that if you do have the serious illness benefit included on your policy, you cannot increase the payout once your policy has begun.
Royal London will give you 60 days from the date of the missed payment to pay it. If you make up the payment within 60 days, your policy won’t be affected. However, if you miss a payment and you fail to make up the payment within 60 days, Royal London will cancel your policy immediately after the end of the 60-day period.
Your Royal London payout is likely to be free from UK income tax and capital gains tax, but your beneficiary may need to pay inheritance tax as it may form part of your estate when you die. It’s also worth noting that tax rules could change in the future, which might affect the tax implications on your payout.
Life insurance ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
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Liz Edwards has been a consumer writer and editor for more than 20 years. She led award-winning teams at the campaigning publisher Which?, and has covered a range of consumer rights and personal finance topics including pensions, credit, banking and insurance. Liz has appeared frequently in national media such as The Sun, Metro, HuffPost and The Independent. She loves to cut through waffle to give consumers the real lowdown. And she loves puns. See full bio
Liz's expertise
Liz has written 108 Finder guides across topics including:
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