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The amount you pay each month stays the same for the full term of the policy
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You can choose for the policy to last for between 5 and 50 years
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No medical – get an instant decision
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Terminal Illness Cover included at no extra cost - see terms and conditions document for further details
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Serious Illness Benefit can be added for an extra cost
Important things to know
- You can apply if you’re a UK resident aged between 18 and 70
- The plan must end when you reach age 80
- The amount of cover stays the same over the term of the policy
- The minimum cost is £7 each month
- Our Life Insurance has no cash-in value – it’s a protection policy only
- If you stop making payments, your cover ends and you won’t get anything back.
Difference between level term and decreasing term
Level Term Cover is life insurance where the payout amount stays the same over the term of the policy. The monthly payments also stay the same over the term of the policy.
When a claim is paid, your family will get the amount of money you took the policy out for.
Decreasing Term Cover pays out a single amount that reduces over the term of the policy. Although payments stay the same over the term of the policy, how much you pay each month is typically less than for Level Term Cover. You could use it to help cover a repayment mortgage or any other loan that gradually gets repaid.
How to claim
We make things as clear and easy as possible and give you a dedicated claims specialist to manage your claim from start to finish.
You’ll need a few documents before you get in touch with us and we have helpful information to make the process easier. Learn about starting the claims process.
95.4%
of Term Life Insurance claims paid in 2022*
*Royal London Protection business claims paid (1 January to 31 December 2022)
Why choose Royal London?
We're a mutual
We're a mutual, so we're not answerable to shareholders. We can make our decisions in the best interests of you, our customers.
Immediate decision
Unlike some life insurance providers, we don’t need a doctor’s report or need to send you off for a medical. We can give you a decision straight away.
Our awards
Whether it's for our outstanding products or first-class service, we're delighted to have received several awards over the years.
Frequently Asked Questions
Level Term Cover is life insurance where the payout amount stays the same over the term of the policy. The monthly payments also stay the same over the term of the policy. When a claim is paid, your family will get the amount of money you took the policy out for.
You'll need to keep making monthly payment throughout the period of cover, unless you die (a claim is made) or a terminal illness diagnosis that meets our definition has been confirmed.
If you miss a payment, don't worry you're still covered within a 60-day period. But if you don't pay your outstanding payments within that period, you'll no longer be covered and we'll have to cancel your policy on the 61st day.
Life Insurance has no cash in value – it’s not a savings plan and it will only pay out on death or a terminal illness diagnosis that meets our policy definitions.
We make things as clear and easy as possible and give your family a dedicated claims specialist. Please use this link to find which team you need to speak to depending on the type of policy and claim you need to make.
When you've been around for as long as we have, you know that life is full of changes. If you need to update details such as your name, address or bank details, we can help you make the changes you want. Update my policy
To put it simply, Level Term Cover is life insurance where both the monthly payments and the payout amount stay the same over the length of your policy. If you die within the term, your family will be given the pre-agreed sum.
With Decreasing Term Cover, the payout amount reduces over the term. This could be used in line with a repayment mortgage or similar loan. Your monthly payments stay the same throughout but are generally less than with a lever cover policy.
We offer single life policies only.
Level Term Cover is life insurance where the payout amount stays the same over the term of the policy. The monthly payments also stay the same over the term of the policy. When a claim is paid, your family will get the amount of money you took the policy out for.
You'll need to keep making monthly payment throughout the period of cover, unless you die (a claim is made) or a terminal illness diagnosis that meets our definition has been confirmed.
If you miss a payment, don't worry you're still covered within a 60-day period. But if you don't pay your outstanding payments within that period, you'll no longer be covered and we'll have to cancel your policy on the 61st day.
Life Insurance has no cash in value – it’s not a savings plan and it will only pay out on death or a terminal illness diagnosis that meets our policy definitions.
We make things as clear and easy as possible and give your family a dedicated claims specialist. Please use this link to find which team you need to speak to depending on the type of policy and claim you need to make.
When you've been around for as long as we have, you know that life is full of changes. If you need to update details such as your name, address or bank details, we can help you make the changes you want. Update my policy
To put it simply, Level Term Cover is life insurance where both the monthly payments and the payout amount stay the same over the length of your policy. If you die within the term, your family will be given the pre-agreed sum.
With Decreasing Term Cover, the payout amount reduces over the term. This could be used in line with a repayment mortgage or similar loan. Your monthly payments stay the same throughout but are generally less than with a lever cover policy.
We offer single life policies only.
Got a question?
Call us, we're here to help
0800 085 4201
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Mon to Fri: 8am-7pm. Sat: 9am-5pm. Sun: 10am-4pm.