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- Level Term Life Insurance Cover Level Term Life Insurance Cover
Good reasons to buy
Terminal Illness Cover
Included at no extra cost
A fixed amount
For an interest-only mortgage, your family or to pay off a debt
Affordable
From only £7 a month
How it works
Your family can get up to £500,000 in a single payment when you pass away.
The payout amount for Level Cover stays the same for the term of the policy, as does how much you pay each month.
For example, you may set the length of the policy term to 25 years and the payout amount to £100,000. So, if you were to pass away at any time during that 25-year term, the payout to your loved ones would be £100,000 provided your payments are up to date.
It doesn't matter if you die after the first year or in the last year of the policy - the payout would be the same.
Because the payout amount is fixed, you can match it to the loan amount of an interest-only mortgage to help your family clear a mortgage. Or, your family could invest the payout for any dependants you have or use it to help support them.
Who is Level Cover Life Insurance for?
A Level Cover Life Insurance policy can be used by homeowners to protect an interest-only mortgage. For those who don’t have a mortgage, it can be used to cover any other fixed debt. Or if you have dependants, it can be used to help support them in the future.
Because the payout amount of a Level Cover policy is set, it can be matched to a mortgage. So homeowners can take out a policy where the cover amount is the same as the loan amount of their interest-only mortgage. When they die, the insurance payout can then help their family clear the mortgage.
With Level Cover, the payout amount stays the same, whether you’ve made one mortgage repayment or you’ve only got one left.
Loved ones with a fixed debt other than a mortgage could benefit from a one-off payment. Or it could simply be used as a gift for your family so they aren’t struggling with household payments.
Five reasons to get Level Cover
Still wondering why you should get the Royal London Level Cover Life Insurance?
Here are a few reasons:
- A payout to help cover the mortgage so they don't lose the family home
- Fixed payout, so you can plan for the future
- Terminal Illness Cover included at no extra cost
- Leave up to £500,000 to make a real difference for your family
- From just £7 a month That's only 23p a day to ease the burden for your loved ones when you die.
Frequently asked questions about our Level Cover Life Insurance
Whatever your question, we've got you covered.
Level 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 only need to answer a few simple health questions when you apply. We don’t need proof from your doctor and we won’t ask for any. So it’s a good idea to be as accurate as you can – if your family need to claim in the future this could save them a lot of heartbreak if the claim was denied.
You specify how long you want the cover to last for when you apply for the policy. The term can be as little as 5 years or as long as 50 years, but the cover must end by age 80.
No. We’ll never increase your monthly payments.
You're still covered if you miss your payments within a 60-day period. If you do not pay your outstanding payments within that period, you will no longer be covered and we'll have to cancel your policy on the 61st day.
It is worth remembering that you won’t get any money back, as this is a life insurance policy and not a savings plan. So you can’t cash in your cover at any time.
If you cancel your policy within 30 days, we will refund any premiums you have paid. If you cancel your policy at any other time, your cover will stop and you won’t get anything back.
In the first instance, please keep your policy documents safe and let your next of kin know where to find them.
Second, your family should please call us and our trained staff will deal with the claim with kindness and sympathy.
Our UK- based call centre and dedicated claims line is 0345 266 5400.
The claims line is open: Mon to Fri: 8am–7pm. Sat: 9am–5pm. Sun: 10am–4pm.
Or they can post to:
Customer Services
PO BOX 696
Royal London House
Macclesfield
SK10 9AJ
We realise that it may be a difficult time when a claim is being made, so we’ll deal with the claim as quickly as we can. Once we’ve received all the information we need, we will make payment within 10 working days.
Level 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 only need to answer a few simple health questions when you apply. We don’t need proof from your doctor and we won’t ask for any. So it’s a good idea to be as accurate as you can – if your family need to claim in the future this could save them a lot of heartbreak if the claim was denied.
You specify how long you want the cover to last for when you apply for the policy. The term can be as little as 5 years or as long as 50 years, but the cover must end by age 80.
No. We’ll never increase your monthly payments.
You're still covered if you miss your payments within a 60-day period. If you do not pay your outstanding payments within that period, you will no longer be covered and we'll have to cancel your policy on the 61st day.
It is worth remembering that you won’t get any money back, as this is a life insurance policy and not a savings plan. So you can’t cash in your cover at any time.
If you cancel your policy within 30 days, we will refund any premiums you have paid. If you cancel your policy at any other time, your cover will stop and you won’t get anything back.
In the first instance, please keep your policy documents safe and let your next of kin know where to find them.
Second, your family should please call us and our trained staff will deal with the claim with kindness and sympathy.
Our UK- based call centre and dedicated claims line is 0345 266 5400.
The claims line is open: Mon to Fri: 8am–7pm. Sat: 9am–5pm. Sun: 10am–4pm.
Or they can post to:
Customer Services
PO BOX 696
Royal London House
Macclesfield
SK10 9AJ
We realise that it may be a difficult time when a claim is being made, so we’ll deal with the claim as quickly as we can. Once we’ve received all the information we need, we will make payment within 10 working days.
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0800 085 4201
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Mon to Fri: 8am-7pm. Sat: 9am-5pm. Sun: 10am-4pm.