Life cover

Life cover from The Royal Bank of Scotland pays a cash lump sum to your family if you die during the term of your policy. You also have the option to cover yourself for specified critical illnesses.

Life cover benefits

• Free instant life cover – make sure you’re protected while we process your application. Apply today and you are automatically covered for up to 90 days while we process your application (exclusions apply)
• Quality cover – every policy comes with a 30 day money-back guarantee
• Flexible terms – decide how long you would like the policy to run. This can be any time from two years to 40 years, as long as cover ends before your 70th birthday
• Broad age limits - if you are 18-64 and a UK resident, you can apply
• Joint cover – if you have a mortgage together, why not take out a policy with your partner. That way, both of you are covered
• Optional critical illness cover – when added to Life Cover it is designed to pay out a guaranteed cash lump sum if you either die or are diagnosed with a critical illness that meets our policy definition. More about critical illness cover

Important information

If you stop paying premiums your cover will stop. The plan has no cash in value at any time. It's also wise to review the cover you have in place from time-to-time, as inflation may erode what your life cover will be worth in the future.

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Level term insurance

This type of cover is generally used to provide financial protection for the family in case the breadwinner dies. It can also be used to cover borrowing. With this type of policy, the amount covered stays the same over the duration of the plan.

Decreasing term insurance

This type of cover is designed to cover the money you owe on a mortgage or loan. The amount of cover reduces over the term (in line with what you owe on the mortgage or loan).

Critical illness cover

Illnesses such as a heart attack or stroke could leave your finances short and devastate your normal life. Our optional critical illness cover could be an ideal financial bonus you need to help rebuild your life, supplementing your life insurance policy. More about critical illness cover.

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Important information

Royal Scottish Assurance plc is authorised and regulated by the Financial Services Authority. Registered Office and principal place of business 24-25 St. Andrew Square, Edinburgh EH2 1AF.

Terms & Conditions

Introduction

This is a specimen of the Policy Terms and Conditions you will receive once you have taken out Life Cover.

1. Premiums
The initial Premium payable under this policy (the ‘Policy’) is as shown in the Schedule and is due on the Commencement Date.

Subsequent Premiums will be due on the corresponding day in each subsequent month or year as appropriate and will cease to be due on the payment of either the Life Cover Benefit (the ‘Benefit’) or on the payment of the last Premium due as specified in the Schedule. The ‘Premiums’ means the initial and subsequent premiums.

Monthly Premiums must be paid by direct debit instruction on a current bank or building society account unless otherwise agreed by the Company. Annual Premiums can be paid by direct debit instruction or by cheque.

Thirty days grace is allowed for the payment of each Premium after the first. Should a claim arise during this period, the unpaid Premium will be deducted from any Benefit payable.

If any Premium is not paid on the due date or within the thirty days grace allowed, the Policy will be cancelled and all Benefits and options under it will cease.

Changes in the frequency of Premium payments to or from monthly or annual payments cannot be made unless the Company, on receipt of a written request to do so from the Policyholder, allows otherwise.

2. Life Cover Benefit
Life Cover Benefit will be payable to the Policyholder on the death of the Life Assured provided this occurs on or before the Expiry Date as specified in the Schedule.

The Policyholder will receive the Life Cover Benefit as specified in the Schedule less any unpaid Premiums.

Life Cover Benefit will only be payable on one occasion and upon payment the Policy will cease.

3. Life (Lives) Assured
For joint life policies, Life Cover Benefit will be payable to the Policyholder on the death of the Life Assured who dies first provided the Policy has not expired, Life Cover Benefit will be paid on one occasion only and upon payment, the Policy will cease and no other benefit will be payable.

4. Payment of Benefits
The payment of any Benefit will be subject to the Company receiving such proof as it may reasonably require of (i) the happening of an event on which any Benefit is payable, (ii) the legal title of the claimant, (iii) the date of birth of the Life Assured, (iv) a completed Company claim form and (v) such other information as the Company may reasonably require.

Upon payment of Life Cover Benefit the Policy will cease.

5. Surrender
If the Policy is cancelled by the Policyholder no payment will be made by the Company and the Policy will cease.

6. Alterations
Notwithstanding anything in the Policy, the Company reserves the right to alter the Policy as the Company reasonably considers appropriate if the Policy or the Company are materially affected by a change in legislation or taxation or any judicial decision. The Company will give the Policyholder written notice of any such alteration.

If the date of birth of the Life Assured, or any of the dates of birth for joint life policies has been incorrectly stated, the Benefits will be amended by the Company having regard to the true date of birth. If the true date of birth is such that, had it been known by the Company at the time the Policy was proposed for, the Company would not have issued the Policy, then the Company may cancel the Policy and no Benefits will be payable.

Any other misrepresentation of or failure to disclose material facts by the Policyholder or Life Assured, will entitle the Company to alter, amend or cancel the Policy having regard to the true facts. A material fact is any information which could influence the Company in its assessment of a proposal.

7. Acceptance of Instructions
Any instruction, request or notice will not be accepted by the Company until such documents, information and consents as the Company may reasonably require are received at the Company’s Principal Place of Business.

8. General
All notices of assignment affecting the ownership of the Policy must be given in writing to the Company at its Principal Place of Business.

In these Policy Conditions the ‘Policyholder’ means the person or persons specified as such in the Schedule or his or their successors in title or assigns.

The Schedule records details of the Policy at the Commencement Date. Any alteration resulting in changes in the Premiums and the Benefits may not be endorsed on the Policy. In this event, such changes will be recorded by the Company.

Where appropriate, words in the masculine include the feminine and words in the singular include the plural and vice-versa.

For the purposes of the Contracts (Rights of Third Parties) Act 1999, the Policyholder and the Company agree that there is no intention to confer contractual rights on any third party who may benefit under the terms of the Policy.

The Policy, the proposal, any statements of information including medical information and any other written statement made by the Policyholder, the Life Assured or either of the Lives Assured, together with the Schedule and any endorsement to the Schedule or Policy shall form the entire contract between the parties and shall be interpreted according to the laws of England.