Refuge Life Assurance was founded in 1835 & operated from famous old Refuge Assurance building in Manchester. Once a major force in the protection market place with their own large salesforce. Due to economic circumstances however, they slowly disappeared as a brand concurrently as the mortgage market moved from endowment to repayment mortgages.
In 1996 Refuge Assurance & United Friendly merged to create the United Assurance Group. In 2000 Royal London Insurance took over this old company.
The Royal London Group head office is currently based in Wilmslow, Cheshire. Royal London Plus was initially set up as the part of the Royal London Group to specifically look after old policies taken out via the Refuge, United Friendly, Phoenix Life, Royal Liver & Abbey Santander.
You can no longer buy Refuge Life Insurance products but you maybe be able to make certain amendments to them via Royal London.
Looking in 2019 to compare old Refuge Life Insurance or Royal London Group products
REFUGE INSURANCE - PRODUCT OVERVIEW
Designed to cover a repayment mortgage on death as it decreases during the plan term.
A whole of life policy that will always payout whenever death may occur. Premiums maybe reviewable in the future.
Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term.
CRITICAL ILLNESS COVER
Helps ease financial worries if you or your children are diagnosed with a critical illness as specified by Refuge Insurance.
INCOME PROTECTION -
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.
Offering company protection for a key person, loan cover, share protection, an employee dies or is diagnosed with a critical illness.
REFUGE INSURANCE ENDOWMENT
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 interest only mortgage loan.
Article on: Refuge Life Insurance ~ for more information visit www.royal-london.com *
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