Royal London is the UK’s largest mutual life and pension provider. With no shareholders, it can focus on providing excellent value products and services to customers.
They offer various cover types, including life insurance, critical illness, and income protection. The company has a good reputation for customer service and claims payments.
Types of cover
Royal London Insurance Reviews offer a range of life and protection covers. These include life insurance, serious illness coverage, and mortgage protection.
If you choose life insurance, the policy will pay out a lump sum if you die or become terminally ill during the term of the policy. This will help your family meet funeral costs and other expenses such as a mortgage or outstanding debts.
In addition to life cover, Royal London also offers serious illness cover, which pays out a tax-free lump sum if you are diagnosed with one of six serious illnesses listed on the policy. These include cancer, heart attack, stroke, multiple sclerosis, and benign brain tumor.
Royal London is the UK’s most extensive mutual life, pensions, and investment company. It’s owned by members, not shareholders, which allows it to focus on providing excellent customer service and improving its products. It also has a high solvency ratio of 233%, which is a good indicator of its financial strength.
Premiums
Royal London is one of the UK’s largest mutual insurers. Its’mutual’ status means that it is owned by its members, not investors, giving it greater accountability and better value for money.
Royal London offers a wide range of policies covering life and critical illness. It has a good track record for paying claims, with 99.6% of protection claims paid out in 2020, helping 86,000 customers[1].
The company also has several different levels of coverage. You can choose the level term, decreasing term, or increasing term cover and whether you want to take out joint or single range.
Royal London also can add Serious Illness Benefit cover, which pays out a lump sum if you are diagnosed with any of the six specified illnesses covered by the policy. It can be added at any point and is free of medical underwriting. It also has a comprehensive Helping Hand service that provides support and guidance from dedicated nurses, should you need it.
Customer service
Royal London is one of the UK’s most extensive mutual life, pension, and investment companies. Their mutual status means that they are owned by their members, not investors, giving them more flexibility to offer good value and improve their customer service.
When you choose Royal London, you can expect to find life insurance policies that are easy to understand and affordable. They also offer a range of benefits, including a second medical opinion, legal helplines, and bereavement counseling.
In addition, their life insurance policies include terminal illness cover, which pays out a lump sum if you’re diagnosed with an illness with an estimated lifespan of fewer than 12 months. This is a great way to protect your family in the event of your death, and it’s included at no extra cost.
Royal London also offers mortgage protection and income protection, which pay a monthly income to your beneficiaries in the event of your death or illness. These benefits are flexible and can be adjusted to suit your needs or circumstances.
Claims
Royal London Insurance reviews show they have a reputation for paying out claims on time. They paid out 99% of protection policy claims in 2018.
Its life insurance cover comes in various forms, including level term, decreasing term, increasing time, over the 50s, and family income benefit, and is available for joint or single policies. You can also add Serious Illness Benefit and Terminal Illness Cover to your cover for an extra premium.
The company is one of the most significant mutual life, pensions, and investment companies in the UK. They have no external shareholders and have a powerful capital position.
In addition, they have an innovative ‘underwrite later’ option, which allows you to start a life insurance policy even if the underwriters need to write to your doctor for further medical information. This helps to speed up the claims process and can save you a lot of hassle if you have to make a claim.