Life Insurance

No minimum cover amount. Driven by minimum premium.

• £4 million for life cover only, subject to underwriting

If Critical Illness Cover or Critical Illness Extra is chosen:

• The maximum cover will be £3 million if Specific Work Task definition under TPD applies, or
• £2 million if Own Occupation definition under TPD applies

• Increasing cover
• The amount of cover increases in line with changes in the Retail Prices Index each year, up to a maximum of 10%

2 years

50 years

• 18 years old. It is possible for a life of another policy to be taken on a 17-year-old by an adult with insurable interest. This policy can then be placed in an Absolute Trust with the 17 year old as the beneficiary
• Minimum age at the end of the policy is 29 years old

• 77 years old for Increasing Life Insurance. Policy must end by client’s 90th birthday
• 67 years old with Critical Illness Cover or Critical Illness Extra. Policy must end by client’s 75th birthday

• The premiums will increase in line with the changes in the Retail Prices Index (RPI) multiplied by 1.5 subject to a maximum increase of 15% per annum
• Reviewable premiums can also be chosen if Critical Illness Cover or Critical Illness Extra if added to Increasing Life Insurance

The cover is paid when the first life insured dies or is diagnosed with a terminal illness (and our Medical Officer has confirmed the illness is expected to lead to death within 12 months).

Policies can be placed in trust.

If the life insured dies within the first year of holding the policy, as a result of suicide or intentional and serious self-injury or an event where, in our reasonable opinion, the life insured took their own life, the policy will be cancelled.

• Included
• Download Accidental Death Benefit cover certificate PDF size: 78KB

• Can increase cover on certain specified events, without need for further medical evidence
• Eligibility criteria and restrictions apply

Your client can request to make other changes to their plan.

Can be added for an additional cost at outset.

• Included with Critical Illness Cover and Critical Illness Extra
• Children are covered for all the conditions listed under Critical Illness Cover except Total and Permanent Disability

• Can be selected at outset for an additional cost with Critical Illness Cover and Critical Illness Extra, for parents who want to upgrade their children’s cover
• Children are covered for all the conditions listed under Critical Illness Cover, Critical Illness Extra, Additional cover included for Critical Illness Extra and Additional Illnesses for Children's Critical Illness Extra (except Total and Permanent Disability)

• Can separate policy if one of the lives insured takes over an existing mortgage in one name / takes out a new mortgage in one name
• Can be requested unless a claim has been accepted for additional cover included with Critical Illness Cover or Critical Illness Extra

   

Access included as standard. Service provided by RedArc Assured Limited.

Automatically included for all policies with a term of two years or more.

Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen.

Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.

No minimum cover amount. Driven by minimum premium.

• £10 million for life cover only, subject to underwriting

If Critical Illness Cover or Critical Illness Extra is chosen:

• The maximum cover will be £3 million if Specific Work Task definition under TPD applies, or
• £2 million if Own Occupation definition under TPD applies

• Decreasing cover
• The amount your client is covered for will reduce roughly in line with the way a repayment mortgage decreases
• Your client can choose whether they want their cover to decrease by 5%, 7%, 8%, or 10%

5 years

50 years

• 18 years old. It is possible for a life of another policy to be taken on a 17-year-old by an adult with insurable interest. This policy can then be placed in an Absolute Trust with the 17 year old as the beneficiary
• Minimum age at the end of the policy is 29 years old

• 74 years old for Decreasing Life Insurance. Policy must end by client’s 90th birthday
• 64 years old with Critical Illness Cover or Critical Illness Extra. Policy must end by client’s 75th birthday

• Guaranteed; or,
• Choice of guaranteed or reviewable with Critical Illness Cover or Critical Illness Extra if added to Decreasing Life Insurance

The cover is paid when the first life insured dies or is diagnosed with a terminal illness (and our Medical Officer has confirmed the illness is expected to lead to death within 12 months) or is diagnosed with a specified critical illness (if that option is chosen) – whichever occurs first.

Policies can be placed in trust.

If the life insured dies within the first year of holding the policy, as a result of suicide or intentional and serious self-injury or an event where, in our reasonable opinion, the life insured took their own life, the policy will be cancelled.

No minimum cover amount. Driven by minimum premium.

• FPIP only: £10,000 a month
• Increasing FPIP: £10,000 a month
• FPIP with Critical Illness Cover or Critical Illness Extra: £4,000 a month
• Increasing FPIP with Critical Illness Cover or Critical Illness Extra: £4,000 a month

• Level cover
• Increasing cover

5 years

• 40 years
• 50 years if with Critical Illness Cover or Critical Illness Extra

• 18 years old. It is possible for a life of another policy to be taken on a 17-year-old by an adult with insurable interest. This policy can then be placed in an Absolute Trust with the 17 year old as the beneficiary
• Minimum age at the end of the policy is 29 years old

• 64 years old. Plan must end by 70th birthday
• If purchased with Critical Illness Cover or Critical Illness Extra plan must end by 75th birthday

• Guaranteed, unless increasing cover is chosen; or,
• Choice of reviewable, if Critical Illness Cover or Critical Illness Extra is added

The cover is paid when either life insured dies or is diagnosed with a terminal illness (and our Medical Officer has confirmed the illness is expected to lead to death within 12 months) or is diagnosed with a specified critical illness (if that option is chosen) – whichever occurs first.

• Included
• Download Accidental Death Benefit cover certificate PDF size: 78KB

• Can increase cover on certain specified events, without need for further medical evidence
• Eligibility criteria and restrictions apply

Your client can request to make other changes to their plan.

Can be added for an additional cost at outset.

• Included with Critical Illness Cover and Critical Illness Extra
• Children are covered for all the conditions listed under Critical Illness Cover except Total and Permanent Disability

• Can be selected at outset for an additional cost with Critical Illness Cover and Critical Illness Extra, for parents who want to upgrade their children’s cover
• Children are covered for all the conditions listed under Critical Illness Cover, Critical Illness Extra, Additional cover included for Critical Illness Extra and Additional Illnesses for Children's Critical Illness Extra (except Total and Permanent Disability)

• Can separate policy if one of the lives insured takes over an existing mortgage in one name / takes out a new mortgage in one name.
• Can be requested unless a claim has been accepted for Additional cover included with Critical Illness Cover or Critical Illness Extra

Access included as standard. Service provided by RedArc Assured Limited.

Automatically included for all policies with a term of two years or more.

Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen.

Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.