£50 Co-op Food vouchers when you buy a new life cover policy
For new customers who buy directly from Co-op Insurance Services. Offer ends 22 December 2020. Terms and conditions apply.
Life Cover is offered through Co-op Insurance Services and is provided, underwritten and administered by The Royal London Group.
Co-op Life Cover has a variety of different features including:
We give you the option to take a payment holiday, once you've had your policy for 12 months. You can take two breaks of up to six months over the lifespan of the policy*.
The pay-out or monthly income could go to any of your dependents such as a partner, your children or anyone else who depends on you financially.
You pay a fixed amount each month, this could be as little as £7 per month. Monthly payments depend on amount, length, type of cover and your personal circumstances.
Terminal Illness Cover is included at no extra cost, meaning that we pay out early if you're diagnosed with a terminal illness that meets our definition.
The main types of life insurance we offer are Level Cover, Decreasing Cover and Monthly Income Benefit.
Each cover type is suited to a particular situation, with the most common being level term cover.
Serious Illness Cover is an optional extra that you may be able to add to your life insurance. If you choose to add it, you’ll pay an extra premium for this. You can’t have this cover on its own.
Serious Illness Cover is designed to pay out an amount of money if you develop one of the illnesses we cover. You'll receive a set amount of money if you're diagnosed with any of the following illnesses:
The amount you’re covered for is called the serious illness pay-out. This can’t be less than £1,000 and the most we’ll cover you for depends on your age.
Life insurance is cover designed to pay out an amount of money if you pass away. It could also cover you if you develop a terminal illness and are expected to survive for less than 12 months.
The pay out or monthly income could go to any of your dependants such as a partner, your children or anyone else who depends on you financially.
The money can then go towards paying a mortgage, funeral costs, or any debts.
It will cover the important expenses you’d want to see taken care of once you’re gone.
Thinking about those costs and the people you might leave behind can be hard, but taking out life insurance is a key part of your financial planning, especially for people with dependants.
If the policyholder has died, please call us on 0345 268 6082^ to register a claim.
You should also call this number if you have developed a serious illness and have Serious Illness Cover.
We’ll then send out a claim form, which needs to be filled in and returned to us.
Once we’ve received the claim form, we may ask for more information. We won’t be able to pay a claim until we’ve received all the information we need. After we've received all the information we aim to pay claims within 3 working days.
Documents we may need to see include:
Depending on the claim, we may need to see other documents. But we’ll only ask for things that we reasonably need to approve the claim, such as the policyholder’s Will or other legal documents.
We know that it may be a difficult time when a life insurance claim is being made, so we’ll deal with the claim as quickly as we can.
Once we’ve received all the information we need, we'll make payment within 10 working days.
Yes, you can assign your policy to a third party. This could be a:
Doing this would mean that you would be transferring ownership of your policy to the third party and giving away all rights under the policy to that third party.
In the event of a claim, we would pay any claim to that third party.
You can also place your policy under trust. This allows you to nominate trustees who in turn will pay the cash sum to nominated beneficiaries in the event of a claim.
If you’re thinking of assigning your policy to someone else, or placing it under trust, we suggest you seek professional advice.
No, this is a life insurance policy, not a savings plan. If you cancel, the policy will end and you will get nothing back.
No, we’ll never make you increase your monthly premiums.
You specify how long you want the cover to last for when you apply for the policy. The term can be as little as 5 years or as long as 50 years.
You can decide how long you want the cover to last when you apply for your policy.
To make it easier for your family at a difficult time, please keep your policy documents safe and let your next of kin know where to find them.
Your family should call our dedicated life insurance claims line on 0345 268 6082^.
Our UK-based, trained staff will deal with the claim with kindness and sympathy.
Lines are open:
If your family prefer to send us a letter, they can send it to:
Customer Services
PO Box 445
Royal London House
Alderley Road
Wilmslow
SK9 0GB
Your family can also email us at [email protected]
Once we’ve accepted the claim, we’ll pay out the amount shown on your policy schedule to:
By phone: 0345 268 6081^
Lines are open:
By email: [email protected]
By post:
Customer Services
PO Box 445
Royal London House
Alderley Road
Wilmslow
SK9 0GB
Yes, as long as they’re:
*A payment holiday can be taken any time after the 1st year. You can take a break of up to 6 months from making monthly payments and the policy will continue. You can take up to 2 payment holidays over the term of the policy, but only 1 can be taken in a 12 month period. You have to make up all of the missed payments at the end of the holiday or reduce the payment amount. If a claim is made during the payment holiday, the payout amount will be reduced by the unpaid monthly premiums.
^ Call charges may apply.
Calls may be monitored or recorded for security and training purposes.
A new customer is someone who has not had an insurance policy of the same type with Co-op Insurance or Co-op Insurance Services in the last 12 months.
Applicants for insurance are subject to normal underwriting criteria.
Co-op Life Cover from Co-op Insurance Services is provided, underwritten and administered by The Royal London Group. The Royal London Group consists of The Royal London Mutual Insurance Society Limited and its subsidiaries; registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL. The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under register number 117672. Co-op Insurance Services Limited is not part of The Royal London Group.
