Details of our Critical Illness Cover - Royal London for advisers

Bringing the benefits of critical illness cover to life

In this article Derek Bradley, CEO of Panacea adviser, talks about his recent situation being diagnosed with cancer, having personal protection and what that allowed him to do. He also refers to a recent case study he filmed with Royal London.

Critical Illness Cover product details

Find out more about the critical illness definitions we cover and how you can tailor cover to suit your client's individual needs.

Basis – single, dual life or joint life
Premiums – guaranteed or reviewable over the term of the plan
Payouts – lump sum or regular payments (except for a plan with decreasing cover, where there’s only a lump sum payment)
Payment of cover – level, increasing or decreasing over the term of the plan

Term – minimum five years, maximum 50 years
Age when cover starts – minimum 18 years old, maximum 69 years old
Age when cover ends – maximum 84 years old
Amount – maximum £3,000,000 (except for a plan with increasing cover, where the maximum is £1,200,000)

To help protect against the effects of inflation,your clients can choose to increase the amount of cover over the term of their plan in one of two ways:

Fixed rate – at a chosen rate of interest (between 2% and 5%)
Index-linked rate – based on the change in the retail price index (between 2% and 10%)

Your clients can reduce the amount of cover over the term of their policy in two ways:

Cover for a mortgage – Reduces in line with a repayment mortgage with a set interest rate (between 0% and 15%). If your clients mortgage interest rate changes, the amount we pay may not be enough to pay off their mortgage.
Mortgage Repayment Guarantee – Pays a lump sum equal to the outstanding amount of your clients’ mortgage (less any arrears of capital or interest) providing the original cover amount and term was the same as the mortgage amount and term when your clients took out the cover. If they've made changes to their mortgage they must alter their cover to match those changes.

If your clients are getting married, taking out their first mortgage, increasing their existing mortgage, their rent is increasing or becoming a parent, they can increase their cover within certain limits without providing any medical evidence.

However, if they want to increase the amount of their cover for any other reason, or by more than the specified limits, they may need to supply medical evidence.

Children's Critical Illness Cover

When your clients take out Critical Illness Cover, they can choose to add the level of Children's Critical Illness Cover to suit their needs and budget. Or they can choose to leave it off entirely if they don't have and don't plan on having children, so that your clients aren't paying for a benefit they don't need. Your clients can also change or remove their Children's Critical Illness option at any time during the term of their plan.

Enhanced Children's Critical Illness Cover - our most comprehensive option, it provides protection from pregnancy to young adulthood (age 22, or 23 if in full-time education). It includes 13 child-specific conditions and an extra additional condition for pregnancy complications.

And with this level of Children's Critical Illness Cover, we automatically include a Children’s Critical Illness Cover Conversion Option. This means that within six months of the children’s cover ending, the child can take out their own Critical illness Cover with us, without any medical underwriting. This is for the same amount as they were covered for on their parent’s plan, up to a maximum amount of £50,000. This option isn’t available if we’ve already paid a critical illness claim for the child.
Standard Children's Critical Illness Cover - cover for 44 main critical illness conditions plus total permanent disability. An option for clients who want some protection for older children, or who may be more cost conscious.

Visit our interactive definitions search tool for a full list of our critical illness definitions. Or find out more about our Children's Critical Illness Cover options.

Making a claim whilst abroad

Claims for critical illness cover can be made from any country, however we might need the person covered to return to one of the countries listed on page 5 of our plan details.

We won't pay a claim if:

The person covered dies within 10 days of meeting one of our critical illness or total permanent disability definitions.
It's the result of intentional self-inflicted injury defined in the plan details.
The person covered doesn't meet one of the critical illness or total permanent disability definitions in the plan details.
It's the result of an exclusion shown on the cover summary.

Terms and conditions

For full terms and conditions, see our Personal Menu Critical Illness cover plan details.