What is life insurance?

Life insurance may also be known as life cover or life assurance. Cover may be obtained to financially help your loved ones if you were to die during the length or term of your policy. A life insurance policy is not a savings or investment product and has no cash value unless a claim is made.

Concerned about the coronavirus?

If you’re a customer, please be reassured that we’re still protecting families, just as we’ve always done, for almost 160 years. You can find out more about how we’re doing that in our latest guidance and information on coronavirus.

Not a customer?

Get answers to your questions about our life insurance and coronavirus.

Why Royal London Life Insurance?

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Get cover in minutes

Answer a few questions and your family could be protected

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Payments start from as low as £7 per month

that's 23p a day!

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Terminal Illness Cover

Included at no additional cost for peace of mind

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Money for your loved ones

Up to £500,000 single payment


Serious Illness Benefit

Add this extra protection to Life Insurance for you and your children over 30 days old.

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Reduce Monthly Payment

You can reduce the payment at any time to any amount, subject to the minimum of £7 a month for Life Insurance.

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Important things to know

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.

You can apply if you’re a UK resident aged between 18 and 70, excluding members of the armed forces and reservists. 

Different types of life insurance
cover to suit you

Level Cover

Can pay out a fixed amount, up to £500,000 to protect an interest-only mortgage or provide a lump sum for your loved ones

Find out more about Level Cover

Decreasing Cover

Get up to £500,000 of cover. This reduces over time and can protect a repayment mortgage, or other debt that decreases over time

Find out more about Decreasing Cover

Looking for life insurance to cover your mortgage?

Our Decreasing Cover can help your family continue to pay the mortgage when you pass away.

More about Decreasing Cover and mortgage life insurance

Working out the right amount of Life Insurance cover

Help protect your family from just 23p a day

Here are a few things that you may want to consider:

  • If you have savings, investments and pensions, or anything else which could be readily turned into cash and that you would be happy to use, you may not need as much cover as you may first think
  • If you have a mortgage how much do you have left to pay off? Would you want to completely pay it off or reduce the amount?
  • If you have children, how much would you need to help with their upbringing while they're dependent on you? You may want to consider their wedding costs or university fees 
  • If you have a husband, wife or partner who doesn't work, how much income would you want to provide if you were no longer around?
  • If you have older family members or people you are caring for, how much money might you need to help with their living costs?
Get a free quote

Serious Illness Benefit option

For an additional monthly cost you could add this extra protection (to Life Insurance) for you and your children over 30 days old. It gives you a financial safety net if you are diagnosed with one of the six illnesses that we define, and survive for 30 days.

If you add Serious Illness Benefit and a claim is paid, this cover ends, but Life Insurance continues.

Find out more about Serious Illness Benefit

FAQs about our Life Insurance

Whatever your question, we've got you covered.

UK residents aged between 18 and 70. Members of the Armed Forces, Army Reserve (previously known as the TA) or Reservists cannot apply.

If you pass away while covered, your family or whoever is making the claim can start the claims process once the death certificate is issued. Medical evidence might be required during the claims assessment. Once the claim is approved, the money is paid into a UK bank accounts by BACS. Typically, funds clear within three to five working days.

No. Our Serious Illness Benefit will make a one-off payout if you develop an illness that meets one of our six serious illness definitions and survive for 30 days. 

Payment holiday - After your first year, you can have a break from making your monthly payments for up to six months - and still stay insured. Not all providers let you do this.

You'll have to make up the missed payments or reduce your payout amount after your payment holiday finishes.

You can have up to two payment holidays during your policy – only one can be taken within any twelve month period. 

You can have a lump sum up to £500,000 for all Level Cover and Decreasing Cover policies.

It depends on your personal circumstances. With us, it can be for as little as five years, or as long as 50 years. But the cover must end by age 80.

You’ll need to keep making monthly payments throughout the period of cover, unless you die or a terminal illness diagnosis has been confirmed. You can stop making your payments at any time. If you do, your cover will end and you won't get anything back.

Yes, you can reduce the payment at any time to any amount, subject to the minimum of £7 a month for Life Insurance. If you choose to reduce your payment your cover amount will also reduce. If you have Serious Illness Benefit you may not be able to reduce your monthly payments to £7. This is because the cost of Serious Illness Benefit is worked out separately, even though we take both payments at once. Also, we will never increase your monthly payments.

You cannot increase cover under your existing policy; however, you can apply for a new policy. Acceptance is subject to completion of our application process. Any additional Life Cover policies taken out will be subject to the terms and conditions applicable to that policy at the time they are taken out. Also, your partner can apply for a policy too – as long as they’re eligible for cover.

If you stop making your monthly payments then your cover will stop. 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.

Not to worry. Just make sure to pay the full amount within 60 days of the missed payment date and you'll be fine. If you don't pay in that time, we'll have to cancel your policy right after the 60th day. You will not get a refund, receive cover or be able to restart the policy.

Looking for something different?

We also offer life insurance through an independent financial adviser.

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Life cover for any amount you need and the option to adapt your plan if your circumstances change. You can also choose to increase your cover each year to protect against inflation.

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An independent financial adviser can help you decide what cover is right for you. You can combine different cover types and you can also take out cover with your partner.

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Access to a dedicated nurse to help you and your family (partner and children) through serious illness, injury or bereavement. You’ll also have the option to get a second medical opinion.

Useful info

Making a claim 

Important Documents and Guides

Policy summary

Terms and conditions

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.