Is Royal London The Best Life Insurance Policy?
verified information
Information verified by Adeline Harmant
Our articles are written by experts in their fields (finance, trading, insurance etc.) whose signatures you will see at the beginning and at the end of each article. They are also systematically reviewed and corrected before each publication, and updated regularly.
Discover the methodologyThis is the ultimate review to guide you through the ins and outs of Royal London life insurance. You might already know that Royal London has several different contract options.
Some are great. Some are less useful. Some are simply too expensive.
So, if you want to get better value for money from your insurance contract, as well as indicative quotes and tips to lower your insurance premium, then you’ll probably love the following article.
Let’s dive right in!
Is Royal London the best life insurance for you?
When taking out life insurance, there are so many things to think about. Life insurance is one of the most important insurance plans to have, as it is the best way to protect your loved ones if something happens to you.
Royal London life insurance has a lot to offer. Here are the main points that you should look at before taking out life insurance with Royal London .
4 Safe overall rating for Royal London
| Rating Criteria | Safe Rating | Our Review |
|---|---|---|
| Customer service satisfaction, claims and support |
4.0/5 rating on TrustPilot | |
| Coverage options |
Royal London offers a special Over 50s cover | |
| Value for money |
Cover options can be gotten for as low as £7 per month | |
| Financial strength | Royal London is the UK's largest mutual life and pensions company offering a range of life insurance policies. | |
| Apps and technologies |
Quotations can be gotten online |
Expert and customer satisfaction reviews for Royal London
| Review organisation | Consumer satisfaction rates for Royal London Life insurance |
|---|---|
| Trustpilot | 4,0/5 |
| Defaqto | 2 |
Royal London insurance in a nutshell
In summary, here are the main features you need to know when taking out life insurance with Royal London .
| Criteria | Royal London details |
|---|---|
| Minimum age | 18 years |
| Maximum age | 70 years |
| Pay-out | Up to £500,000 |
| Life insurance with free gifts | No |
| Extras | No |
| Terminal illness | Yes |
What are Royal London life insurance policy types?
When choosing life insurance, you have to make a lot of important decisions. You have to choose between different policy types to find which one would best cover your needs. As the first big choice, you have to choose between:
- Term life insurance. Term insurance splits into two types: level term or decreasing insurance. If you choose a term insurance, once again you would have to choose between these two. Sometimes, there is an increasing term insurance option.
- Whole of life insurance. This insurance will pay out when the policyholders die. Not all insurers offer this type of coverage.
What is Royal London term life insurance?
There are two term life insurance options:
- Level cover guarantees that your loved ones get a payment if you die during a specific period of time. You will receive the same amount during a fixed period. Life insurance can be for 5,10, 20 years, etc., depending on your needs.
- Decreasing cover guarantees that your loved ones get a payment if you die during a specific period of time. The amount decreases over the policy term. It is really useful if you have a loan, as the price tends to decline over time. You can choose an increasing cover as well.
| Criteria | Royal London life insurance |
|---|---|
| Minimum term | 5 years |
| Maximum term | 50 years |
| Pay-out | Up to £500,000 |
| Minimum monthly premium | £7 |
| Extras or any interesting facts | No |
Should you take level or decreasing term life insurance?
Royal London offers two types of term life insurance: one is level life insurance, the other one is decreasing life insurance.
| Criteria | Provider Details |
|---|---|
| Royal London term life insurance (level) |
|
| Royal London decreasing term life insurance, also known as life insurance for mortgage | The Decreasing cover that Royal London offers provides the following:
|
Some providers also propose increasing life insurance, which is a similar concept as decreasing life insurance, but with the premiums getting higher rather than lower.
Royal London does not offer Increasing cover
Can you take out a Royal London plan life insurance with someone else?
Yes, you can either have a single or a joint policy at Royal London .
Taking out a joint policy covers two people that are together under the same policy. In the end, it is cheaper than two single policies. It covers both of your contributions to the family. It only pays out once, and the sum will be given to the other partner if one dies. It leaves the surviving member of the couple without life insurance after the death of the first partner.
Taking out a single policy pays for one person only. It pays out the amount chosen. Taking out two policies is more expensive, but you can choose the level you want, and it’s beneficial if the two partners don’t need to be insured at the same level.
What are Royal London life insurance extras?
You can add these extras at additional cost to your Royal London life insurance:
| Details | Reviews |
|---|---|
| Helping Hands Service | This is a service that gives the policyholder access to a dedicated nurse in the case of an illness, injury or bereavement during the term of the plan. |
| Waiver of premium | This separated into two optional parts; for sickness and unemployment. This allows the policyholder pick which to add to their insurance policy. |
| The Co-operative Legal Services | With this service, legal advice can be provided with ease to policyholders. |
| Serious illness benefit option | With this benefit, extra life insurance protection is provided for the policyholder and his/her children provided that they are above 30 days old. |
| Funeral Plans | Royal London proposes prepaid Funeral Plans |
Should you take out Royal London life insurance critical illness cover?
What is critical illness cover?
It is an extra that can be added to your policy, or can be combined with your standard life insurance. It pays out if you contract a disease. The illness developed must be specified in your policy contract. The most common illnesses covered are cancer and heart attacks, etc. If you become really ill, your insurance will pay out exactly as if you’ve passed away.
Is Royal London the best critical illness cover?
Here are the main features when you take out Royal London life insurance with serious illness:
| Criteria | Overall life insurance and critical illness cover |
|---|---|
| Coverage | The Serious illness cover that Royal London provides up to £350,000 depending on your age and it offers the following:
|
| Children's Cover |
|
| What should you know about Royal London critical illness cover? | Royal London paid up to £174m in life and terminal illness claims in 2018. |
How much is Royal London life insurance?
The big question is knowing how much life insurance you’ll need. Your answer to this question (as well as your age) will mainly determine the price of your life insurance:
However, your life insurance price will also depend on several factors:
- Your medical conditions
- Whether or not you are a smoker
- Which add-ons you add to your life insurance
- Your salary
- The coverage you want
- Whether you take out a joint policy or not
So you must ask yourself the relevant questions for your own situation, for example: Do you have a loan? Do you have savings? Do you have debts? Do you have a family? Does your job offer protection?
How to contact Royal London life insurance?
Here are all the important phone numbers for contacting Royal London life insurance:
| Service | Phone Numbers | Opening Hours |
|---|---|---|
| Get a quote at Royal London | 0800 032 7781 | Mon to Fri: 8am-7pm Sat: 9am-5pm Sun: 10am-4pm |
| How to claim at Royal London | 0345 6094 500 | Mon to Fri: 8am-7pm Sat: 9am-5pm Sun: 10am-4pm |
| How to cancel at Royal London | 0345 600 7788 | Mon to Fri: 8am-7pm Sat: 9am-5pm Sun: 10am-4pm |
What are Royal London general contact details?
You will find in this table all the general contacts that you would need if you want to reach Royal London life insurance:
| General contacts | |
|---|---|
| Mailing address | Gracechurch Street 55 |
| Social media | Twitter, LinkedIn, YouTube |
| Chatbot | No |
scottish widows life insurance contact number
How to claim at Royal London life insurance?
You will find on this table the different possibilities for reporting a claim on your Royal London life insurance:
| How to claim on your life insurance at Royal London ? | |
|---|---|
| When to claim? | As soon as possible |
| Claim by mail | Customer Services |
| Claim by email | Not Available |
| Claim online | Not Available |
| Claim by phone | 0345 6094 500 |
Here are all the important Royal London life insurance contact number!
How to cancel my Royal London life insurance?
You will find on this table the different ways to cancel your Royal London life insurance:
| How to cancel your life insurance at Royal London | |
|---|---|
| Fees |
|
| Cancel by mail | Customer Services |
| Cancel by email | |
| Cancel online | Not Available |
| Cancel by phone | Not Available |
How do I get Royal London life insurance quotes?
Here are the different ways to get a life insurance quote at Royal London :
| How to get a life insurance quote at Royal London | |
|---|---|
| Quote online |
|
| Quote phone | 0800 032 7781 |
How do I log into Royal London life insurance?
There is no Login option
Do we recommend Royal London life insurance?
Royal London is one of the largest life insurance and pensions companies in the UK. It was founded in 1861 and has been in operation for more than 150 years.
The Royal London Mutual Insurance Society Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and this makes them able to pay out claims easily. Royal London offers two levels of life insurance policy, and also cover for policyholders over 50. They also offer optional extras like Family Income Benefit, Waiver of Premium. Legal services and the Helping Hand services are also provided to help policyholders. They have a poor rating of 2 stars on Defaqto and a 4 star rating on TrustPilot. Their services are recommended.
Life insurance is a contract between an insurance company and the policyholder. In exchange for an annual or monthly premium, the insurance company agrees to give out to a designated beneficiary a lump sum if the policyholder were to pass away.
Yes, it is worth getting life insurance when people depend on you financially, like your family.
How much life insurance in the UK is depends on a lot of factors. However, with our data, we calculate that the average monthly cost of life insurance is £15. Of course, the price will depend on whether you take out joint or single life insurance, and the term of your insurance if you are not taking out a whole life insurance policy.
Like with other types of insurance, it is a standard procedure: the policyholder pays a premium to a provider, with an agreed level of cover.
Lots of life insurance providers offer free gifts:
- Royal London
- Legal & General
- Aviva
- Shepherds Friendly
- OneFamily
- British Seniors Insurance Agency
There are lot of life insurance policy that have interesting features. Depending on these features, you can decide if this life insurance suits you.
To find what is the best life insurance for you, use our tool to compare prices and offers from all the insurers on the market instantly.
