PHOENIX LIFE INSURANCE
Phoenix Assurance dates back to 1786. Phoenix Life Insurance as we know it today is part of Resolution Group Limited which was formed in 2004 for the sole purpose of buying & running closed UK life insurance funds.
Resolution Life Group bought the UK life operations of Royal and SunAlliance (R&SA Life) which had closed to new life insurance business in 2002. Resolution Life Group then acquired Swiss Life UK which had also closed to new business & integrated the former R&SA Life and Swiss Life UK into one group called Phoenix Life Group (Phoenix). They then acquired the Life Operations of Allianz Cornhill (Cornhill) to transfer their policyholders.
In 2006, Resolution Life plc acquired the life businesses of Abbey National plc namely Scottish Provident, which was re-named Phoenix Life Assurance Ltd. A funds merger programme transferred the funds of various insurers including Alba Life, Britannic Assurance, Britannic Assurance, Britannia life, Life Association of Scotland, Century Life into Phoenix Life Limited.
In 2008 Resolution plc was acquired by the Pearl Insurance Group who own NPI & London Life. In 2009, Pearl Insurance Group became the ultimate holding company of the Pearl group of companies. then changed its name to Phoenix Group Holdings. From 2013 to date Phoenix Life the story is ongoing as they continue to adjust their portfolio of old insurers policies.
PHOENIX LIFE ASSURANCE - PRODUCT REVIEW
Although most Phoenix Insurance plans are no longer available for new protection business, you maybe able to amend or adjust your existing policy by contacting either Phoenix or an Independant Broker.
PHOENIX 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 - Decreasing Mortgage Protection
Designed to cover a repayment mortgage on death or critical illness as it decreases during the plan term.
PHOENIX 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.
Helps ease financial worries if you are diagnosed with a critical illness as specified by Phoenix Life Insurance.
Providing security by way of an income if you are off sick or have an accident or disability.
OVER 50'S LIFECOVER
A no medical evidence policy that always payout whenever death may occur but only after an initial period.
PHOENIX 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.
Article on: Phoenix Life ~ for more visit www.phoenix.co.uk *
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