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Royal London Personal Menu Showcase Page

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For general enquiries, technical help and web support, making a claim and pre-sale underwriting enquiries:

0345 6094 500

(Lines open 9am – 5pm Monday to Friday)

Protection Guru has worked with Royal London to create a concise objective analysis of their product range.

Royal London in their own words

We believe the menu plan is the cornerstone of holistic protection advice and the foundation of valuable client relationships. By moving the conversation away from individual covers, you can offer your clients a solution for all their protection needs. Everything is in one place, so it’s easy to see what they’re covered for.

With our Personal Menu Plan you can mix and match a range of covers and benefits with different sums assured and plan terms to tailor the cover that suits your clients’ needs and budgets.

The cover available from our Personal Menu Plan can change with your clients. So if it’s protecting their mortgage, family, or the lifestyle they’ve built – we’ve got it covered. All with just one application, one plan charge and one direct debit.

Have a look at our sales aid to see how the Personal Menu Plan can help protect a family against many damaging outcomes.

A range of Personal Protection COVERs

Life Cover

Royal London’s has a range of options to help advisers customise the Life Cover to their client’s situation and needs. They offer single, dual life and joint life cover as well as increasing, decreasing or level cover.

Critical Illness Cover

Royal London’s Critical Illness covers a wide range of of conditions with particularly strong coverage for high risk conditions such as prostate cancer, breast cancer, heart attack and multiple sclerosis. Visit their interactive definitions search tool for a full list of of their definitions.

Children's critical illness

Royal London’ Critical Illness cover provides flexibility when covering children to ensure that client’s only pay for what they need. For Standard Children’s Critical Illness Cover, children are covered for the main conditions plus Total Permanent Disability. For Enhanced Children’s Critical Illness Cover, they’ll be covered for the main conditions, plus additional conditions, pregnancy-related conditions and child-specific conditions. If the client has no children then Children’s Critical Illness can be removed from the plan altogether.

If your clients’ needs change in the future they can add or remove Children’s Critical Illness Cover at any time, without giving us any medical information. Your clients’ main Critical Illness Cover won’t be affected by any children’s claims Royal London pay out.

Income Protection

Royal London’s Income Protection covers up to 65% of the first £15,000 of a client’s pre-tax earnings, plus up to 55% of the remainder, up to £250,000 a year. Fracture cover and hospitalisation payment are included as standard. These benefits don’t affect the main Income Protection cover, so your clients won’t need to wait for their chosen deferred period to end before making a claim.

Those clients with deferred periods of 13, 26 or 52 weeks will receive a back-to-work payment in their first and second months back at work to help with the financial impact of returning.

Minimum benefit amount – the amount of cover paid out at claim will never be less than the lower of £1,500 each month, or the amount of cover on their plan. For clients who are doctors or surgeons, Royal London increase the minimum benefit amount to £3,000.

For your clients employed by the NHS, or those eligible for a sick pay structure which matches that of the NHS, Royal London offer a special deferred period arrangement. They also offer sabbatical cover for eligible medical professionals for up to 12 months.

family income benefit

Family Income Benefit is a more cost-effective alternative to lump sum protection, as the client opts to receive any potential pay-out as a monthly income rather than a lump sum. Royal London offer Family Income Benefit on Life Cover, Life or Critical Illness Cover and Critical Illness Cover on our Menu Plans.

If a client is well enough to return to work after making a successful Critical Illness
Cover claim, they’ll continue to receive their monthly payments until the end of the
benefit term.

Your client can also commute any income to an equivalent lump sum if they change their mind at the claim stage or once their income benefit is in payment.

Waiver of Premium (Sickness)

Royal London’s Waiver of Premium covers your clients’ premiums should they become ill or injured and meet the definition of incapacitated, or if they’re diagnosed with a terminal illness and have less than 12 months to live. Your clients can choose a deferred period to suit their needs, after which Royal London will start paying their premiums. Waiver of Premium is automatically covered when your clients take out Income Protection.

Helping advisers highlight the value of menu plans

Royal London’s “Value of Menu Tool” enables advisers to demostrate how providing multiple benefits can increase the likelihood of claim whilst still being cost effective.

Below we highlight how a menu approach provide more effective cover at four different life stages using the outputs from the tool.

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Young & Single

Single Benefit

Level life or CI – £120,000 S/A

Likelihood of claim – 16%

Cost – £30 per month

Menu approach

Level life – £120,000

Level CI – £40,000

Level IP (2 year benefit) – £12,000

Likelihood of claim – 58%

Cost – £20 per month

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Young couple

Single Benefit

Level life or CI – £120,000 S/A

Likelihood of claim – 16%

Cost – £30 per month

Menu approach

Level life – £120,000

Level CI – £40,000

Level IP (2 year benefit) – £12,000

Likelihood of claim – 58%

Cost – £20 per month

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Family

Single Benefit

  • Joint life or CI – £150,000 + Child CI
  • LIKELIHOOD OF CLAIM = 30%
  • Cost – £138 per month

Menu approach

  • 2 x single life – £150,000
  • 2 x single life CI – £50,000
  • 2 x Level IP (2 year benefit) – £12,000
  • Likelihood of claim – 74%
  • Cost – £92 per month
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Older couple

Single Benefit

  • Joint life or CI – £150,000
  • Likelihood of claim – 28%
  • Cost – £310 per month

Menu approach

  • 2 x single life – £150,000
  • 2 x single life CI – £50,000
  • 2 x Level IP (2 year benefit) – £15,000
  • Likelihood of claim – 66%
  • Cost – £218 per month

Risk vs Reality – It wouldn’t happen to me

Royal London’s “Risk Reality” graphic highlights the risks of different claimable events happening to a male and female of working age across:

  • both aged 30
  • Non-smokers
  • Planned retirement age of 65

Providing Flexibility for life’s ups and downs

Roll your mouse over or touch to expand

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Free cover

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Lifestyle review

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Add, amend or remove benefits

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Inflation proofing

Areas for improvement

  • Royal London do not offer access to virtual GP services
  • Could look at offering a simple low cost critical illness plan
  • Likewise, they could look at a simple low cost income protection plan

Protection Guru has worked with Royal London to create a concise objective analysis of their product range. Royal London have had input to the design of this page and contributed to the cost of the construction and maintenance, however Protection Guru have maintained editorial control over the content to ensure objectivity.

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