Cornhill Life Insurance
 

      CORNHILL INSURANCE


Cornhill Life Insurance - Get Free Quotes

Cornhill Insurance traces its origins back to 1905. In 1994 they launched Cornhill Direct. In 2003 Cornhill Insurance changed its name to Allianz Cornhill Insurance plc & then in 2007 to just Allianz.

Once a UK major brand player in the UK general insurance & protection marketplace, by then Cornhill Life Insurance had already closed its sales force division.

They then were just operating via Cornhill Direct only & then finally closed to new protection life business due to changes in the economic marketplace in 2014.

In 2005 the Britannic Resolution Life Group [ now Phoenix Life ] started to become the owner and administrator of closed life funds.

Phoenix then acquired the Life Operations of Allianz Cornhill (Cornhill Assurance) in 2005/7 with an exercise taking place to transfer existing Cornhill policyholders. 
 

CORNHILL LIFE INSURANCE - PRODUCT REVIEW 2020

Although Cornhill Life & Cornhill Direct Life Insurance plans are no longer available for new protection life business, you maybe able to amend or adjust your existing policy in 2020 by contacting either Phoenix Life or an Independant Broker.

WHOLE OF LIFE INSURANCE COVER 

A whole of life policy that will always payout whenever death may occur. Premiums maybe reviewable in the future.

MORTGAGE PROTECTION 

Designed to cover a repayment mortgage on death or critical illness as it decreases during the plan term.

CORNHILL LIFE INSURANCE 

Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term. Plan can be guaranteed or reviewable premiums.

CRITICAL ILLNESS  

Helps ease financial worries if you are diagnosed with a critical illness as specified by Cornhill Life Assurance.

Cornhill Life Insurance Policy

INCOME PROTECTION 

Providing security by way of an income if you are off sick or have an accident or disability.

BUSINESS PROTECTION 

Offering company protection for a key person, loan & share protection or an employee dies, is diagnosed with a critical or terminal illness during the term.

OVER 50'S LIFECOVER 

no medical evidence policy that always payout whenever death may occur but only after an initial period.

CORNHILL ENDOWMENT POLICY 

Offering protection if the policy holder dies or is diagnosed with a critical or terminal illness during the mortgage plan term; designed to provide a lump sum at the end to be used usually toward repayment of an Endowment interest only mortgage loan.

Compare old Cornhill Life Insurance against other Insurers 

Compare Cornhill Phoenix Insurance Cover
 

Article on: Cornhill Life ~ for more visit www.phoenix.co.uk *

( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)

FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A LIMITED PANEL OF PROVIDERS
For products with an investment element we will introduce you to an authorised adviser

Cornhill Phoenix Life Insurance
 

CORNHILL LIFE INSURANCE - Frequently Asked Questions

Can you make changes to your Cornhill life insurance policy ?

In terms of changing your life insurance policy, often you can request some of the following via Phoenix Life.

  • reduce or perhaps extend the period of cover
  • decrease or increase the amount of lifecover
  • remove indexation option or any specific paid for policy features
  • change the collection date of your usual premiums
  • remove a life assured from a joint policy
  • joint life policy separation, allowing a joint policy to be split into 2 new single policies if a couple divorce, split up or say change a joint mortgage into a sole name. 

The changes could be subject to medical underwriting based on your circumstances at the time & may well affect your premiums.

What if my health or lifestyle changes after I have taken the policy out ?

Life Insurance cover is based on full disclosure at the time you took the policy out ie; being 100% as honest & accurate as possible. So any health or lifestyle changes since usually does not void your existing policy, as it wasn't relevant at that time of initial application. Please check your original T&C's 

How do I make a Death Claim ?

Check firstly if premiums are still being paid or alternatively is the policy perhaps "paid up" meaning no further premiums were needed. 

Then contact the Insurers claims line to inform them. They will provide you with their claim form for completion. You will need to send in a number of documents, most importantly being the death certificate proving the cause of death.

Insurers ( as well as other Providers ) will need the original death certificate, so ideally ask for several certified copies. Enclose your policy document, if you can find it and then send by recorded delivery or registered post to Insurers. 

Once received, the Insurers usually cross check all information before processing and settling a valid claim ie; was the medical & lifestyle information correct at the time of original application

If everything is hopefully in order, the Insurer may pay out a claim & usually in a matter of days or weeks.

Cornhill  Life Insurance ( Phoenix Life ) Free Insurance Quotes

Death Claims, Life Insurance Trusts & Life of Another

Who the life insurance maybe actually then paid out to can be more complicated & many people wrongly assume it is a simple process.

If it is a joint life 1'st death policy or if it single life policy owned by another person " life of another"  then it will just be paid to the survivor. 

However, if it is a single life policy it can be more complex. Check if the policy was setup & written into a trust. If so the Insurer will pay the life insurance via the trustees named to the nominated beneficiaries directly. Sometimes there are a named beneficiary & others times a list of potential beneficiaries. The life insurance paid out doesn’t have to be included in the legal documents sent for probate and potentially it won’t be liable for inheritance tax either.

Should I put my Cornhill Life Insurance policy into Trust ?

If the life insurance wasn’t written into trust, it will be paid to the executors of the deceased’s estate. They will handle the administration, known as probate in N Ireland, England, Wales and confirmation in Scotland. If not, the benefits will fall into your estate if you died prematurely. If you have not made a will this can then cause further complications with the life insurance monies.

Until probate is fully granted, no monies can be paid out to those named in the will. On average, this can take upto 6 months. By not placing the plan into trust may also swell up the total estate values, leading to potentially Inheritance Tax IHT issues

So placing a policy in trust can help to ensure that the policy proceeds go to the correct beneficiaries you decide to nominate at that stage & help avoid possible probate delays & IHT costs. Ask the Insurers if they provide any standard trust form wordings & seek legal advice if unsure.

What is the Best Life Insurance Policy ?

There were many different types of schemes available ( see products review ). Please get a no obligation quote from our website first to get an idea of both cost & terms available; it is best to speak to one of our Professional Advisers before buying.

If I started smoking after taking out Life Insurance - Do I need to now tell Cornhill Life ?

If you had legitimately stopped smoking for over 12 months at that time of original application, you may wish to advise the Insurers you have started smoking again - but this should not affect the original policy terms which should still stand - you were being honest. Also maybe suggest letting your GP know if this is the case. 

Why are you comparing ~ Cornhill Life Assurance ?
 

Cornhill Life Insurance  Company Review 2020 

 

Broker advice comparing Cornhill Assurance Cover



 

 

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This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice. 
For protection we offer products based on a fair and personal analysis

By completing one of our no obligation quotation request forms, you may be provided with comparison protection quotes, key facts from leading Providers - based just on the basic information you have provided. Note: These quotes will not take account of any personal, health or lifestyle issues unless a full application is completed. You also consent for us to then kindly contact you by phone - where we may offer Professional Broker help & guidance if needed. We may as appropriate then help to arrange a suitable protection policy based upon your own circumstances & needs after a further review by "advice & recommendation". This will usually be on a non face to face basis.

 For products with an investment element we will introduce you to an authorised adviser. We act as introducers for Accident, Sickness and Unemployment and Mortgage Payment Protection Insurance plans. We may also introduce you to other selected professional partners for other protection or legal products as deemed appropriate. Online Dispute Resolution (ODR) - https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.chooseLanguage. Financial Ombudsman. https://www.financial-ombudsman.org.uk We nominate to fundraise for Great Ormond Street Hospital Charity.

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