Royal
Bank of Scotland Life Assurance
Royal Bank of Scotland Life Assurance
Life
and Family Protection from Royal Bank of Scotland
Financial
Protection for you and your family.
Term
Assurance Plan – provides a lump sum to protect your
family
The
straightforward way to provide financial security for your
family if you are no longer able to provide for them.
- The
Term Assurance Plan provides a guaranteed lump sum should
you die during the period of the cover – joint cover
is also available
- The
lump sum is free of Income Tax and Capital Gains Tax under
current tax rules
- It
can be used to pay off a mortgage or loan, or to provide
financial support for your family
- Once
the monthly cost of your cover is agreed it won’t rise
during the term
- Cover
is available from only 17p per day
Royal Bank of Scotland Term Assurance Plan Key benefits
- Level
Term Assurance – provides a set amount of cover for
your family should an income earner pass away
- Decreasing
Term Assurance - most often used to cover a mortgage or
other loan, it is normally cheaper than level term cover
as the amount of cover reduces in line with the amount you
still owe
- You
decide how much cover you want – usually there is no
maximum limit
- You
also decide the period of cover – this can be from
2-40 years (though the term cannot extend beyond your 70th
Birthday)
- You
can arrange the cover ‘in trust’ – this means
you nominate exactly who you would like to receive the money
after your death and allows us to pay out the money more
quickly
- Critical
Illness Cover is available from the commencement of your
policy and can be added for a little extra cost (this cover
is only available until your 65th birthday). This provides
for payment of the guaranteed lump sum if you are diagnosed
with one of a number of defined critical illnesses during
the period of cover
- Premium
Protection Option is also available from the commencement
of your policy for a little extra cost (you must be under
55 years of age to take this option) and ensures that, if
you suffer an accident or prolonged illness, and are unable
to work, your premiums will be waived and you will continue
to be covered until the period of cover ends, you return
to work, or the guaranteed lump sum is paid, whichever is
earlier
Critical
Illness Plan – financial protection in case of serious
illness
The
straightforward way to provide financial security for your
family if you are no longer able to provide for them.
The
chances of surviving a serious condition or illness are today
much improved, but the financial consequences can still be
devastating.
- Provides
a guaranteed lump sum if you are diagnosed during the period
of cover with any of the 28 major illnesses or conditions
specified in the policy and survive for at least 28 days
following diagnosis
- Illnesses
and conditions covered include cancer, heart attack and
stroke – these account for 80% of all critical illness
claims
- The
lump sum is free of Income Tax and Capital Gains Tax under
current tax rules
Royal Bank of Scotland Critical Illness Plan Key Benefits
- You
can use the cash sum for any purpose you like – for
example to repay the mortgage so that whatever happens,
the family home is secure
- The
cost of cover is fixed – the monthly cost is guaranteed
not to rise during the period of cover you have chosen
- You
can choose cover for between 5 and 40 years (though the
term cannot extend beyond your 70th birthday)
- Many
people choose a period of cover between 10 and 25 years
to cover the period when their financial commitments are
likely to be the greatest
- Premium
Protection Option is also available from the commencement
of your policy for a little extra cost (you must be under
55 years of age to take this option) and ensures that, if
you suffer an accident or prolonged illness, and are unable
to work, your premiums will be waived and you will continue
to be covered until the period of cover ends, your return
to work, or the guaranteed lump sum is paid, whichever is
earlier
For
further information on Royal Bank of Scotland Life Assurance
visit the Royal Bank of Scotland website.
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