Royal London was founded in 1861 as a friendly society and went on to become a mutual society in 1908. It’s now the UK’s largest mutual life, pensions and investment company.
Royal London has owned the Bright Grey insurance brand since 2003.
Beginning in 2014, Royal London moved to bring the various brands it operated under a unified Royal London umbrella. At the end of 2015, Bright Grey and its sister brand, Scottish Provident, were re-branded as Royal London and now operate solely beneath the Royal London banner.
Royal London’s flexible Income Protection policy allows policyholders to choose between a variety of options, such as level or increasing cover and how long they want the cover to pay out for.
Comes as standard with Royal London’s Income Protection policies at no extra cost to support clients through tragic life events such as the diagnosis of a critical illness or the death of a loved one. Helping Hand goes beyond financial payouts by providing a personal nurse adviser to help policyholders and their families through a difficult time.
Payments of between £1,500 and £4,000 on top of any benefit you’d receive for being off work if you receive a fracture of a specified body part
Up to £100 per night for up to 90 nights after six consecutive nights of hospitalisation, providing the hospitalisation is not as a result of an excluded condition
Accelerated terminal illness payment and death benefit
Deferred period is waived if you’re terminally ill and, if the policyholder dies during the policy term, Royal London will pay a lump sum equal to 12 times the monthly premium.
Overview of Key Policy Details
Maximum Claim Duration
12 months, 24 months or unlimited (until the end of the policy)
4 / 8 / 13 / 26 / 52 weeks
Waiver of Premium
65% of the first £15,000 income and 55% of the remainder, up to a maximum of £250,000 per year
£100 per month
Spouse salary and dividend cover
You can protect your spouse’s salary/dividend income from your limited company providing the spouse is not in a profit-generating role and salary is a nominal (£11,500)
Minimum Entry Age
18 years old
Maximum Entry Age
59 years old
Minimum Policy Term
Maximum Policy Term
Maximum Entry Age
59 years old
Back to work benefit
For those with a 13, 26 or 52 week deferral period only
With no need for an additional medical if you’re increasing your mortgage, getting married, having a child or have had a salary increase providing the person covered is under 55
The lower of £1,500 per month or the amount of cover on the plan
Incapacity resulting from self-inflicted injuries
We have taken care to ensure that the information on this Drewberry owned website is accurate. However we can give no guarantee as to the accuracy of the content of the site. We accept no liability for any losses whether direct or indirect arising from errors on our part.
Royal London offers a comprehensive Income Protection offering with in-built flexibility and a number of policy options available.
Like other Royal London insurance policies, their Income Protection offering comes with the Helping Hand option as standard, offering practical and emotional support to clients or their beneficiaries who have had to claim on a Royal London plan.
With more than 150 years behind it, Royal London has stood the test of time. The insurer has been through both the Great Depression and the financial crisis of 2008/09 and is still offering its members protection today.
Being a mutual insurer, Royal London doesn’t have shareholders to pay, so it is run entirely for its members.
We aim to know the policies we advise on, inside out and back to front. Below is a couple of commonly asked questions with regards to the policy coverage of the Royal London permanent health insurance product answered.
A. No, insurers understand that circumstances can change over such a long time. If you want to cancel your policy, you can do so by providing the insurers with 30 days’ notice.
It is usually best to have a run through with an adviser before making any changes. For example, it may be the case that someone is moving to a company that provides a longer period of sick pay, in which case it may be more appropriate to adjust the deferred period so it aligns with the new sick pay entitlement rather than cancelling the policy and taking out a new plan.
A. For all of Royal London’s insurance policies apart from Life Cover, Royal London may ask you to return to one of a selection of countries before making a claim. These countries are found in Royal London’s Terms and Conditions.
As you can see, there are a lot of points to consider when comparing insurers. With so many factors in play, it can be time-consuming to pull up key information across every single insurer in the market, so why not ask an adviser for help?
We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to talk to us.
If it is all getting a little confusing and you want to talk you through your options to make sure you find the most suitable cover please don’t hesitate to get in touch.
Pop us a call on 02084327333 or email firstname.lastname@example.org.
I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.