Old Mutual Life Insurance Review

Old Mutual is a mutual insurance company which means it is owned by its policyholders.

In this guide:

• The History of Old Mutual
• What Life Insurance policies does Old Mutual offer in the UK?
• How much does Life Insurance from Old Mutual cost?
• What do customers say about Life Insurance from Old Mutual?
• The pros and cons of Old Mutual Life Insurance
• Claiming from Old Mutual

The History of Old Mutual

Old Mutual is a financial services company headquartered in London, United Kingdom. It was founded in 1845 as the Mutual Life Assurance Society and was later renamed Old Mutual plc. The company offers a range of financial products and services including life insurance, investments, savings, and banking. Old Mutual has a long history dating back to 1845. The company was founded as the Mutual Life Assurance Society, and was later renamed Old Mutual plc. The company offers a wide range of financial products and services, including life insurance, investments, savings, and banking. Old Mutual has a strong presence in Africa, where it is one of the largest financial services providers. The company has operations in over 30 countries and serves over 16 million customers.

What Life Insurance policies does Old Mutual offer in the UK?

Old Mutual offers a wide range of life insurance policies in the UK, each designed to meet different needs and budgets. There are whole life, term life, critical illness, and income protection policies available, as well as a variety of other options. Old Mutual has a team of expert advisors who can help customers find the right policy for their individual needs.

How much does Life Insurance from Old Mutual cost?

Old Mutual Life Insurance prices will vary depending on the age of the customer. For example, a 30-year-old UK customer would pay £9.79 per month for a Life Insurance policy with Old Mutual.

What do customers say about Life Insurance from Old Mutual?

Old Mutual's UK customers have generally been happy with their Life Insurance policies. The company has a good reputation for providing good customer service and offering a wide range of products. However, some customers have complained that the claims process can be slow and difficult to navigate.

The pros and cons of Old Mutual Life Insurance

There are a few key things to consider when deciding if Old Mutual Life Insurance is right for you. First, do you want a policy that is only for death benefit or one with a savings component? Second, how long do you want the coverage to last? Finally, what is your budget for premiums?

Old Mutual offers both whole life insurance policies and term life insurance policies. Whole of life insurance provides coverage for your entire life, as long as you continue to pay the premiums. This type of policy also has a savings component, which builds cash value over time that you can access during your lifetime.

Term life insurance, on the other hand, provides coverage for a set period of time, typically 10-30 years. It does not have a savings component. One advantage of Old Mutual's whole life insurance policies is that they offer guaranteed level premiums. This means that your premium will never go up, no matter how long you keep the policy. This can be a good option if you are on a tight budget and want to make sure your premium stays the same over time.

Another advantage of Old Mutual's policies is that they offer the option to convert to a permanent policy at any time during the term. This can be a good option if your needs change and you want to make sure you have coverage for your entire life. The main disadvantage of Old Mutual's policies is that they tend to be more expensive than other options on the market. This is because they offer both whole life and term life insurance policies. If you are looking for strictly term life insurance, you may be able to find a cheaper option elsewhere.

Claiming from Old Mutual

Old Mutual pays out claims on 98.1% of its life insurance policies, according to the most recent data from the company. This high payout rate is due in part to the company's rigorous underwriting process.