Life Insurance

Flexible cover for financial security

Life insurance offers financial protection for your client’s loved ones, with a lump-sum or monthly benefit paid if the life insured passes away.

We offer single and joint life policies as the following options:

Life Insurance (level cover)
Decreasing Life Insurance
Increasing Life Insurance
Family and Personal Income Plan
Increasing Family and Personal Income Plan

Key documents and tools

Key documents

Tools and calculators

Reasons to recommend Life Insurance

Cover can be tailored to offer choice for different needs

Access to Wellbeing Support included as standard, with a choice of other optional benefits

No claims cut-off periods

Key features and benefits

Fast underwriting decisions

80% of underwriting decisions receive an instant decision.

We’ll beat competitors

In some instances, you may be able to use Price Beater to get the best price for your client. Please see our Price Beater guide for more details.

Includes Accidental Death Benefit

Your client is covered while we process their application.

Waiver of Premium option

For an additional cost, your client won't have to pay their premium after 26 weeks if the person covered can't work due to illness or injury.

Terminal Illness Cover

Where the illness is expected to lead to death within 12 months, Terminal Illness Cover is automatically included for all policies with terms of two years or more.

Advance payments for funeral costs

Families can receive an advance payment of up to £10,000 on a valid life insurance claim to help cover funeral costs, with payment made directly to the Funeral Director. Terms & conditions apply.

Support from Umbrella Benefits

Wellbeing Support

Access included as standard. Personalised practical and emotional telephone support from a registered nurse provided by RedArc Assured Limited.

Fracture Cover

Covers multiple claims a year if your client gets a specified injury, up to £4,000 a year. Available for an additional £5.90 a month*.

Care Concierge

A free telephone service which gives your client and their family access to later life care experts.

* Insured by AXIS Specialty London. The support and services are provided by Trustedoctor, a sister company of Further Underwriting International SLU.

Quote and apply with OLP Connect

Submit and track business with our all-in-one pipeline management system.

Product details

For full details, see key documents for the Policy Summary and Policy Booklet

Life Insurance (level cover)

For full details, download the Product Profiles PDF: 905KB document

Minimum cover	No minimum cover amount. Driven by minimum premium
Maximum cover	£10 million for life cover only, subject to underwriting If Critical Illness Cover or Critical Illness Extra is added, the maximum cover will be: £3 million if Specific Work Task definition under Total and Permanent Disability (TPD) applies or £2 million if Own Occupation definition under TPD applies
Minimum term	1 year for Life Insurance 2 years with Critical Illness Cover or Critical Illness Extra
Maximum term	50 years
Minimum age	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
Maximum age	77 years old for 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
Premiums	Guaranteed; or, Choice of guaranteed or reviewable with Critical Illness Cover or Critical Illness Extra if added to Life Insurance
Joint life policies	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
Trusts	Policies can be placed in trust
Death in the first year	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

Benefits and options

Accidental Death Benefit	Included Download Accidental Death Benefit cover certificate PDF size: 78KB
Changing your policy (previously known as Guaranteed Insurability Option)	Can increase cover on certain specified events, without need for further medical evidence Eligibility criteria and restrictions apply
Other changes	Your client can request to make other changes to their plan
Critical Illness Cover and Critical Illness Extra	Can be added for an additional cost at outset
Children’s Critical Illness Cover	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
Children’s Critical Illness Extra	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 and Additional Illnesses for Children’s Critical Illness Extra (except Total and Permanent Disability)
Joint life policy separation on divorce or dissolution of a registered civil partnership	Can be requested unless a claim has been accepted
Free Life Cover	Between exchange of contracts and completion of a mortgage (completion of missives and date of entry in Scotland).
Immediate Cover	On request Download Immediate Cover certificate PDF
Wellbeing Support	Access included as standard. Service provided by RedArc Assured Limited
Fracture Cover	Optional benefit for an additional cost
Terminal Illness Cover	Automatically included for all policies with a term of two years or more
Total and Permanent Disability	Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen
Waiver of Premium	Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.

Increasing Life Insurance

For full details, download the Product Profiles PDF: 905KB document

Minimum cover	No minimum cover amount. Driven by minimum premium
Maximum cover	£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
Type of cover	Increasing cover The amount of cover increases in line with changes in the Retail Prices Index each year, up to a maximum of 10%
Minimum term	2 years
Maximum term	50 years
Minimum age	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
Maximum age	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
Premiums	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
Joint life policies	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)
Trusts	Policies can be placed in trust
Death in the first year	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

Benefits and options

Accidental Death Benefit	Included Download Accidental Death Benefit cover certificate PDF size: 78KB
Changing your policy (previously known as Guaranteed Insurability Option)	Can increase cover on certain specified events, without need for further medical evidence Eligibility criteria and restrictions apply
Other changes	Your client can request to make other changes to their plan
Critical Illness Cover and Critical Illness Extra	Can be added for an additional cost at outset
Children’s Critical Illness Cover	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
Children’s Critical Illness Extra	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 and Additional Illnesses for Children’s Critical Illness Extra (except Total and Permanent Disability)
Joint life policy separation on divorce or dissolution of a registered civil partnership	Can be requested unless a claim has been accepted
Free Life Cover	Between exchange of contracts and completion of a mortgage (completion of missives and date of entry in Scotland).
Immediate Cover	On request Download Immediate Cover certificate PDF
Wellbeing Support	Access included as standard. Service provided by RedArc Assured Limited
Fracture Cover	Optional benefit for an additional cost
Terminal Illness Cover	Automatically included for all policies with a term of two years or more
Total and Permanent Disability	Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen
Waiver of Premium	Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.

Decreasing Life Insurance

For full details, download the Product Profiles PDF: 905KB document

Minimum cover	No minimum cover amount. Driven by minimum premium
Maximum cover	£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
Type of cover	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%
Minimum term	5 years
Maximum term	50 years
Minimum age	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
Maximum age	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
Premiums	Guaranteed; or, Choice of guaranteed or reviewable with Critical Illness Cover or Critical Illness Extra if added to Decreasing Life Insurance
Joint life policies	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.
Trusts	Policies can be placed in trust
Death in the first year	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

Benefits and options

Accidental Death Benefit	Included Download Accidental Death Benefit cover certificate PDF size: 78KB
Changing your policy (previously known as Guaranteed Insurability Option)	Can increase cover on certain specified events, without need for further medical evidence Eligibility criteria and restrictions apply
Other changes	Your client can request to make other changes to their plan
Critical Illness Cover and Critical Illness Extra	Can be added for an additional cost at outset
Children’s Critical Illness Cover	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
Children’s Critical Illness Extra	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 and Additional Illnesses for Children’s Critical Illness Extra (except Total and Permanent Disability)
Joint life policy separation on divorce or dissolution of a registered civil partnership	Can be requested unless a claim has been accepted
Free Life Cover	Between exchange of contracts and completion of a mortgage (completion of missives and date of entry in Scotland).
Immediate Cover	On request Download Immediate Cover certificate PDF
Wellbeing Support	Access included as standard. Service provided by RedArc Assured Limited
Fracture Cover	Optional benefit for an additional cost
Terminal Illness Cover	Automatically included for all policies with a term of two years or more
Total and Permanent Disability	Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen
Waiver of Premium	Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.

Family and Personal Income Plan (FPIP)

For full details, download the Product Profiles PDF: 905KB document

Minimum cover	No minimum cover amount. Driven by minimum premium
Maximum cover	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
Type of cover	Level cover Increasing cover
Minimum term	5 years
Maximum term	40 years 50 years if with Critical Illness Cover or Critical Illness Extra
Minimum age	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
Maximum age	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
Premiums	Guaranteed, unless increasing cover is chosen; or, Choice of reviewable, if Critical Illness Cover or Critical Illness Extra is added
Joint life policies	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

Benefits and options

Accidental Death Benefit	Included Download Accidental Death Benefit cover certificate PDF size: 78KB
Changing your policy (previously known as Guaranteed Insurability Option)	Can increase cover on certain specified events, without need for further medical evidence Eligibility criteria and restrictions apply
Other changes	Your client can request to make other changes to their plan
Critical Illness Cover and Critical Illness Extra	Can be added for an additional cost at outset
Children’s Critical Illness Cover	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
Children’s Critical Illness Extra	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 Extra except Total and Permanent Disability, and a further 8 specific child critical illness conditions.
Joint life policy separation on divorce or dissolution of a registered civil partnership	Can be requested unless a claim has been accepted
Wellbeing Support	Access included as standard. Service provided by RedArc Assured Limited
Fracture Cover	Optional benefit for an additional cost
Terminal Illness Cover	Automatically included for all policies with a term of two years or more
Total and Permanent Disability	Can be included for an additional cost if Critical Illness Cover or Critical Illness Extra is chosen
Waiver of Premium	Optional. Can be included for an additional cost. Eligibility criteria and restrictions apply.

Underwriting

Get pre-sale support with underwriting limits, ratings, exclusions and more.

Adviser toolkit

Calculators, sales aids and case studies for your client conversations.

Literature

Your central library for technical guides, forms and product information.

Life Insurance

Key documents and tools

Key documents

Key documents

Tools and calculators

Reasons to recommend Life Insurance

Cover can be tailored to offer choice for different needs

Access to Wellbeing Support included as standard, with a choice of other optional benefits

No claims cut-off periods

Key features and benefits

Fast underwriting decisions

80% of underwriting decisions receive an instant decision.

We’ll beat competitors

In some instances, you may be able to use Price Beater to get the best price for your client. Please see our Price Beater guide for more details.

Includes Accidental Death Benefit

Your client is covered while we process their application.

Waiver of Premium option

For an additional cost, your client won't have to pay their premium after 26 weeks if the person covered can't work due to illness or injury.

Terminal Illness Cover

Where the illness is expected to lead to death within 12 months, Terminal Illness Cover is automatically included for all policies with terms of two years or more.

Advance payments for funeral costs

Families can receive an advance payment of up to £10,000 on a valid life insurance claim to help cover funeral costs, with payment made directly to the Funeral Director. Terms & conditions apply.

Support from Umbrella Benefits

Wellbeing Support

Fracture Cover

Care Concierge

Quote and apply with OLP Connect

Product details

Life Insurance (level cover)

For full details, download the Product Profiles PDF: 905KB document

Benefits and options

Increasing Life Insurance

For full details, download the Product Profiles PDF: 905KB document

Benefits and options

Decreasing Life Insurance

For full details, download the Product Profiles PDF: 905KB document

Benefits and options

Family and Personal Income Plan (FPIP)

Benefits and options

More from Adviser Protection

Underwriting

Adviser toolkit

Literature