RBS Life Insurance
RBS (Royal Bank of Scotland) offers a range of products to provide financial security to you and your loved ones:
- Level Term Insurance - provides protection in case the person who supplies the main source of income passes away during the term of the policy. The amount of coverage stays the same (level) during the life of the plan. There is no cash value at any time and there is no coverage if you stop paying your premiums.
- Decreasing Term Insurance - designed to cover the outstanding balance of your mortgage or loan should you pass away during the term of the policy. The amount of coverage decreases at the approximately the same rate as your mortgage or loan.
- Critical Illness cover - offers additional protection to supplement your life insurance policy. This type of cover will provide a lump sum if you are diagnosed with a covered critical illness such certain types of cancer, heart attack or stroke.
- Over 50s Cover - this type of cover guarantees acceptance for UK residents ages 50-75. The payout is guaranteed not to increase and your premiums are fixed. There is no medical exam or health questionnaires required to qualify. It is important to be aware that there is no payout should you pass away within the first two years of the policy, unless the death is accidental; however, the premiums are refunded. There is no cash value at any time and the cover ceases should you stop paying your premiums. In addition depending on the time you pass away the amount paid in premiums could exceed the payout of the policy.
- Income Protection - this type of insurance offers protection if you suffer from an illness or an injury and are unable to work. When an employer’s sick pay runs out, living on State Benefits alone could be challenging. Income protection offers an easy way to maintain yours and your family’s standard of living.