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Get the low-down on Royal London's life insurance policies, from prices to customer feedback to claims.
Dating back to 1861, Royal London describes itself as "a purpose-driven mutual" life insurance company. It was named "company of the year" at the Financial Services Advisor awards in 2020.
Royal London was ranked in the UK's Top 10 Best Life Insurance Companies for Term Insurance, Whole of Life Insurance, and Over 50s Life Insurance in recent independent research.
In this in-depth review article we look at:
Royal London is one of the largest mutual life, pensions, investment, and asset management companies in the United Kingdom, selling products through advisers, intermediaries, and online direct to consumers. It has over 5 million customers.
The company began as a friendly society in 1861 and changed to a mutual society in 1908. Royal London was originally known as the Royal London Friendly Society, and it wasn’t until the 1990s that the company began to rebrand and use the Royal London name.
Royal London's operational headquarters are in Wilmslow, Cheshire and it has over 1,900 employees.
The company is a member of the Association of British Insurers (ABI) and the Financial Services Compensation Scheme (FSCS).
Royal London offers several different types of life insurance policies, including:
In separate articles we have also reviewed Royal London's Income Protection and its Critical Illness insurance plans.
The cost of life insurance from Royal London will depend on several factors, including your age, health, lifestyle and the type of policy you choose.
To give you an idea of how much life insurance from Royal London might cost, we’ve compiled some sample quotes for a 30-year-old non-smoker with a £250,000 policy for 20 years.
Prices are correct at the time of writing but do make sure to get your own quote.
Royal London has a 4-star rating on Trustpilot, with 61% of customers rating the company as “excellent” and 19% rating it as “great”.
The majority of customers who have left reviews for Royal London life insurance say that they are happy with the service they have received from the company.
In recent years, Royal London has typically paid out on around 96% of life insurance claims. Find out how that compares to the life insurance industry average.
Here are Royal London's life insurance pay out rates:
Source: Royal London press releases
Life insurance can be a tax deductible business expense in certain cases. For example, if the life insurance policy is taken out on a key employee, the premiums can be deducted as a business expense. Additionally, if the life insurance policy is used as collateral for a business loan, the
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