Reasons why (personal)

personalmenuplan-1 Royal London’s Personal Menu Plan gives you the opportunity to protect your family against the financial impact of death, critical illness and loss of income through an accident or sickness. The product is flexible, so you can combine different types of cover for different amounts and for different terms in the one plan, for only one plan charge. And when your needs change, you can update your plan by adding and removing covers, or by amending the ones you already have. lifecover-2 You should take out [level]* [increasing]*[decreasing] *Life Cover of £ [amount of cover] with guaranteed rates. If you die within the term of the plan, the Life Cover will pay out. It’ll also pay out if you’re diagnosed with a terminal illness that meets our definition. This means that, if you die or are diagnosed with a terminal illness and you’re likely to die within 12 months, either a lump sum or an income will be paid out, depending on the option you’ve chosen. This will help ease the financial impact on you or your [family]. *delete as appropriate criticalillnesscover-3 You should take out [level] *[increasing]*[decreasing] *Critical Illness Cover of £[ amount of cover] with [guaranteed ]*[reviewable]* rates. During the term of the cover, if you meet Royal London's definition of one of a range of critical illnesses [or total permanent disability], the cover will pay out either a lump sum or an income, depending on the option you’ve chosen. This could help ease any financial impact on you or your family and could also help towards any medical bills you may have. Royal London offers cover for a wide range of critical illness definitions. Its definitions meet, and in some cases exceed, the model definitions set out by the Association of British Insurers. *delete as appropriate Royal London also offers cover for a wide range of additional conditions that will pay out 50% of the amount of cover, up to a maximum of £35,000. It’ll also pay out the full amount of cover if you’re later diagnosed with a critical illness definition on its list. lifeorcriticalillnesscover-4 You should take out [level] *[increasing]*[decreasing] *Life or Critical Illness Cover of £ [amount of cover] with [guaranteed ]*[reviewable]* rates. During the term of the cover, if you die or meet Royal London's definition of one of a range of critical illnesses or total permanent disability, the cover will pay out either a lump sum or an income, depending on the option you’ve chosen. This could help ease any financial impact on you or your family and could also help towards any medical bills you may have. Royal London offers cover for a wide range of critical illness definitions. Its definitions meet, and in some cases exceed, the model definitions set out by the Association of British Insurers. The cover will also pay out if you meet Royal London's definition of terminal illness. This means that if you’re diagnosed with a terminal illness and you’re likely to die within 12 months; either a lump sum or an income will be paid out, depending on the option you’ve chosen. *delete as appropriate Royal London also offers cover for a wide range of additional conditions that will pay out 50% of the amount of cover, up to a maximum of £35,000. It’ll also pay out the full amount of cover if you’re later diagnosed with a critical illness definition on its list. childrenscriticalillnesscover-5 As part of Critical Illness Cover* and Life or Critical Illness Cover* you can choose the level of Children’s Critical Illness Cover included. *delete as appropriate [You should not include Children’s Critical Illness cover at this time. This means that you don’t have any protection in place for children. If you change your mind you can add either Standard or Enhanced Children’s Critical Illness Cover at any time and you won’t have to provide any medical information.*] [You should include Standard Children’s Critical Illness Cover. All your natural, legally adopted, stepchildren or financially dependent children from birth to age 22, or 23 if in full-time education. There’s no limit to the number of children you can cover. Children will be covered for: • 50% of the main cover (subject to a maximum of £30,000) for the main critical illness definitions • 50% of the main cover (subject to a maximum of £30,000) for terminal illness • £5,000 for the death of a child This gives you peace of mind because all your children are automatically covered. Any pay-out may help towards medical bills. It could also provide financial help for you and your family, should you wish to take any time off work to care for your children. Any claim(s) paid out on your children will not affect a claim made by you as the plan owner. If you want to change your level of cover in the future you can do so at any time. Once the children have reached age 22, or 23 if in full-time education, you can remove the cover. You can also upgrade your cover to the Enhanced Children’s Critical Illness Cover at any time and you won’t have to provide any medical information.*] [You should include Enhanced Children’s Critical Illness Cover. All your natural, legally adopted, stepchildren or financially dependent children from birth to age 22, or 23 if in full-time education. There’s no limit to the number of children you can cover. Children will be covered for: • 50% of the main cover (subject to a maximum of £50,000) for the main critical illness definitions • 50% of the main cover (subject to a maximum of £50,000) for total permanent disability • 50% of the main cover (subject to a maximum of £50,000) for terminal illness • 50% of the main cover (subject to a maximum of £35,000) for the additional conditions except pregnancy complications • £5,000 for each affected pregnancy under the pregnancy complications additional condition only available with Enhanced Children’s Critical Illness Cover • £10,000 for the death of a child This gives you peace of mind because all your children are automatically covered. Any pay-out may help towards medical bills. It could also provide financial help for you and your family, should you wish to take any time off work to care for your children. Any claim(s) paid out on your children will not affect a claim made by you as the plan owner. If you want to change your level of cover in the future you can do so any time. Once the children have reached age 22, or 23 if in full-time education, you can remove the cover. You can also change your cover to Standard Children’s Critical Illness Cover at any time and you won’t have to provide any medical information.*] [With our Enhanced Children’s Critical Illness Cover, we automatically include a Children’s Critical Illness Cover conversion option. This means when your client’s child cover ends, the child has the option to take out their own critical illness plan with us, without any medical underwriting. This is for the same amount as they were covered for on their parent’s policy, up to a maximum amount of £50,000. The policy has to be taken out within 6 months of the child’s cover ending. The policy will be based on terms and conditions at the time the option is used. This isn’t available if we’ve already paid a critical illness claim for the child.*] *delete as appropriate incomeprotection-6 You should take out [level]* [increasing]* Income Protection of [£ amount of cover] with guaranteed rates. This cover will use the own occupation definition of incapacity and a deferred period of [4]*[8]*[13]*[26]*[52]*weeks. In the event of a claim, the cover will be payable [throughout the remainder of the term of the cover]* [for a maximum of 1 year]* [for a maximum of 2 years]*[for a maximum of 5 years]*. Should the person covered meet Royal London's definition of incapacity because of an accident or illness during the term of the cover, Income Protection will become payable. The first payment will be made after the chosen deferred period. As extra peace of mind, Waiver of Premium (Sickness) is automatically included. This means that Royal London will pay your premiums for you while Income Protection is being paid. The following covers are also included as standard when you take out our Income Protection. Fracture cover – if the person covered suffers a fracture, we’ll pay up to £4,000 for each claim to help with their recovery. The pay-out they receive depends on where the fracture is. We cover multiple fractures in the same claim and the person covered can make up to two fracture claims in a 12 month period. Hospitalisation payment – if the person covered is hospitalised for more than six consecutive nights during their deferred period we’ll pay £100 each night, for up to 90 nights during the term of their cover. Back-to-work payment – when the person covered is ready to go back to work, and we’ve stopped making their Income Protection payments, we know they might have some additional expenses. That’s why we give clients with deferred periods of 13, 26 or 52 weeks a payment in their first and second months back at work. The amount they get depends on their cover payment period. *delete as appropriate. waiverofpremiumsickness-7 You should take out Waiver of Premium (Sickness) with guaranteed rates. This cover will use the own occupation definition of incapacity and a deferred period of [deferred period] weeks. In the event of a claim, the cover will be payable throughout the remainder of the term of the plan. *delete as appropriate jointcover-8 A combination of joint life and single life covers are available all within the same plan. splitcover-9 You have selected a jointly owned plan where there is separate [Life Cover] [Life or Critical Illness Cover] on each plan owner. This means the plan could pay out twice (on the death of each person covered) and if this happens at different times there could be an income tax liability. To stop you having to pay this, Royal London will split your application so that the covers that cause the issue are in different, jointly owned plans. Each plan will have its own plan number and cover summary (this is the document confirming the cover you have bought). For jointly owned plans, Royal London will normally pay the cover to the plan owners if it’s a critical illness claim, to the surviving plan owner if the other has died, or to the personal representatives if both plan owners have died. However, if your plan is written in trust, Royal London will pay the cover to the trustees. If your plan is assigned, Royal London will pay the cover to the assignee(s). termofeachcover-10 To make sure your plan suits your needs, each cover you choose in your Royal London Personal Menu Plan can have a different term. You have chosen a [fixed term]*[renewable term]* for [cover] of [term] years (there is a guide below for your information). *delete as appropriate The following covers can be taken out for a term of between 1 and 72 years or a renewable term of 5 or 10 years: Life Cover Waiver of Premium (Sickness) The following cover can be taken out for a term of between 1 and 50 years or a renewable term of 5 or 10 years: Life or Critical Illness Cover (reviewable or guaranteed rates) The following cover can be taken out for a term of between 5 and 52 years: Income Protection The following cover can be taken out for a term of between 5 and 50 years or a renewable term of 5 or 10 years: Critical Illness Cover freecover-11 You may be protected by a temporary cover while Royal London considers your application for a protection plan, which is called Free Cover. It applies to Life Cover*, Critical Illness Cover*, Life or Critical Illness Cover* and Income Protection*. The Royal London Free Cover document gives full details of the Free Cover terms and conditions. *delete as appropriate totalpermanentdisability-12 This is optional and can included with Critical Illness Cover* and Life or Critical Illness Cover.* Should you become unable to carry out either your own occupation or a number of working tasks (depending on the type of cover you have chosen and how Royal London underwrite your application) because of total permanent disability, the cover will pay out. The cover will be paid as a lump sum or as income, depending on the option you have chosen. *delete as appropriate levelcover-13 You can maintain the amount of cover you have each year by choosing level cover. When you choose level cover, your payments and sum assured stay the same. You can apply level cover to any number of the covers included in the same plan. decreasingcover-14 You can choose to decrease the level of your cover in line with a repayment mortgage with a fixed interest rate of between 0% and 15%. You can also choose a mortgage repayment guarantee. The mortgage repayment guarantee means that subject to a number of conditions, Royal London will guarantee to pay an amount equal to your outstanding mortgage. If you choose a rate in line with your mortgage it means that if your mortgage interest rate changes, the amount Royal London pays if you claim may not be enough to pay off your mortgage. You can apply decreasing cover to any number of the covers included in the plan. increasingcover-15 You have chosen the increasing option for your (enter cover type) cover. This means that each year, the amount of your cover will increase [at the rate of x%] *[in line with the rate of increase in the retail price index]*. These increases will happen automatically without the need for any further medical evidence, meaning the amount of your valuable cover keeps pace with your needs over the term of the plan. *delete as appropriate forlumpsumcover-16 Choosing this option does not increase the initial cost of your cover. Your initial payment to Royal London will be the same as if you had chosen level cover. However, as each increase in cover is applied to your plan, the cost of your cover will increase as well. Of course, you have the right to decline any of the increases Royal London offers you, but if you decline increases in two consecutive years, Royal London will withdraw the increase option entirely and will offer you no more automatic increases. guaranteedrates-17 To provide extra peace of mind, the rates for your Life Cover*, Critical Illness Cover*, Life or Critical Illness Cover*, Income Protection*, Waiver of Premium (Sickness)* are guaranteed throughout the term of the plan, so you’ll never be asked to pay any more to maintain your chosen level of cover. Your payments will only change if you change your level of cover. *delete as appropriate reviewablerates-18 Royal London will review the rates for [Critical Illness Cover*, and Life or Critical Illness Cover*, from time to time. As you’ve chosen Critical Illness Cover* or Life or Critical Illness Cover*, payments won’t be reviewed for the first five years, and will be reviewed every five years after that.]* Your payments may go up or down on a regular basis. If the plan payment increases there is no limit to how much the increase in payment may be. Royal London will always tell you at least a month before making any change to your payment. Further details on what can lead to your payments changing can be found in the plan details booklet for the Royal London Personal Menu Plan. *delete as appropriate multiplecovers-19 You stated that you want to take your cover from a single provider who’ll provide separate [Life Cover*, Critical Illness Cover*, Life or Critical Illness Cover*, Income Protection*, Waiver of Premium (Sickness)*] within one policy to cut down on underwriting, plan charges and paperwork that would have been needed if you’d chosen multiple covers from multiple providers. *delete as appropriate

whyroyallondon-20 Why Royal London Royal London was established in 1861 and is the UK's largest mutual life and pensions company that offers expertise in pensions, protection insurance, savings and investment products as well as investment management. It has group funds under management of £153 billion, 8.6 million policies in force and 4,100 employees. Figures quoted are as at June 2023. ourfinancialstrength-21 Financial strength Royal London was established in 1861 and is the UK's largest mutual life and pensions company that offers expertise in pensions, protection insurance, savings and investment products as well as investment management. It has group funds under management of £153 billion, 8.6 million policies in force and 4,100 employees. Figures quoted are as at June 2023. There are several ways to measure and judge financial strength. Royal London has a Counterparty Credit Rating from Standard and Poor's of A, a stable outlook (August 2023). Royal London also has a Moody's rating of A2 (July 2023) and AKG rating of B+ (March 2022). helpinghand-22 Helping Hand When considering a protection plan, it’s important to look at what’s included in the cost. To get the best value for money, you should take out a plan that offers additional features on top of the cover itself. With a Royal London Menu Plan, you’ll have access to Helping Hand - a support service, designed to help you maintain a healthy lifestyle - as well as be there for you during times of crisis. Helping Hand gives the plan owner access to a personalised health assessment as well as a range of hand-picked, early care medical services so you’ve the help and advice you need to stop small health issues becoming a big problem. Helping Hand is there for you, whichever stage in life you're at, and as a plan owner it doesn't cost anything extra to use. A Helping Hand with wellbeing There might be times when you want some help to keep your wellbeing on track. When you choose to take out a Menu Plan, the plan owner will get online access to a range of hand-picked early care medical services, which can help you understand how small changes in your lifestyle can help to improve your overall health. Once your plan starts, you’ll get an email from us inviting you to register for My Royal London, our customer portal. From there you’ll be able to register with LiveSmart, where you'll complete a brief health questionnaire. You'll then get a personalised health report from LiveSmart and full access to the Helping Hand wellbeing services. Your health report gives includes tips on how to improve or maintain your health and provides recommendations of the wellbeing service that can best support you with your goals. HealthHero: 24/7 access to virtual GP consultations by experienced, NHS doctors. Handy if you’re struggling to see your regular GP. Thrive: Mental Wellbeing: with this NHS approved app, you get personalised recommendations to help prevent, detect and self-manage mental health conditions, such as stress and anxiety. They have a range of techniques to help you build your resilience and improve your overall mental wellbeing. TrackActiveMe: Created by physiotherapists, this app can help diagnose a musculoskeletal problem and gives you access to physiotherapy advice and personalised exercises to support your recovery from a wide range of injuries and conditions. You also have access to a library of exercises for the home or workplace, to help you stay strong and injury-free. A Helping Hand with Recovery If you (the plan owner), or your partner and children, are going through a difficult time, such as a serious illness, injury or bereavement, Helping Hand will also be there to offer support – even if you don’t make a claim. You can contact RedArc, who’ll give you access to a dedicated nurse. They’ll provide tailored and personal support whenever it’s needed, for as long as it’s needed. You’ll also get access to additional independent helplines to support you when you need a professional opinion or independent advice: Legal helpline – legal professionals will help you deal with difficult situations such as employment rights, wills and probate or inheritance tax. Career helpline - If your health has changed or you’ve been made unemployed the career helpline can guide you back to work or help you to widen your skills, research the job market and write a great CV. Helping Hand is a package of support services and each service is provided by third parties that aren’t regulated by either the Financial Conduct Authority or the Prudential Conduct Authority. These services aren’t part of our terms and conditions and don’t form part of your insurance contract with us, so can be amended or withdrawn at any time. This means that you or your family’s access to these services could be amended or withdrawn by us in the future. makingaclaim-23 Making a claim Royal London prides itself on treating its customers as people rather than numbers. They’ve developed an innovative service that’s focused on successful claims but, more than that, they’re focused on customers as individuals. If you need to make a claim, they’ll know that something devastating may have happened. So all claims are handled by a small team of claims specialists - when you need to speak to someone about your claim, they’ll know all about your case, so you’ll only have to explain it once. They’ll also keep you up to date on how your claim is going. On top of this, Royal London is dedicated to supporting you and your family through whatever you may face as a result of your claim. Their comprehensive support service, Helping Hand, helps you when you’re going through a testing time in your life, like facing a cancer diagnosis or surviving a heart attack. You’ll have access to a dedicated RedArc nurse who’ll provide tailored and personal support whenever you need it - for as long as you need it. In 2022 Royal London paid 95.4% of term life claims and 93.6% of critical illness claims. For income protection 86.0% of claims were paid (includes those already being paid at the start of 2022 that we continued to pay throughout 2022), and for new income protection claims 78.5% of claims were paid. Of the term life claims not paid, 98% couldn’t be paid due to misrepresentation. This is when the person covered by the plan did not give accurate information on their application form, such as in relation to existing health conditions. So it’s really important that you carefully consider all of the questions within the Royal London application and answer them accurately.