SCOTTISH PROVIDENT LIFE INSURANCE
Founded in 1800's, Scottish Provident demutualised & became part of the Abbey National Group in 2001 and the brand name for health and life insurance products of Scottish Mutual Assurance.
In 2007 they were acquired by Phoenix Resolution Plc which is a large specialist manager of in-force UK life funds. At the end of 2008 Royal London Insurance acquired a range of businesses that included Scottish Provident. Royal London Group founded in 1835 is one of Britain's largest mutual life insurers.
The Bright Grey protection insurance brand was set up by Royal London in 2003 & competed directly with Scottish Provident.
Royal London Plus was also set up as to specifically look after old insurance policies taken out with United Friendly, Royal London, Co-operative CIS Insurance, Abbey National / Santander, Phoenix Life, Refuge Assurance & Royal Liver. Some old Scottish Provident products are administered by Phoenix Life.
Looking in 2020 to compare old brand Scottish Provident Insurance
SCOTTISH PROVIDENT INSURANCE - PRODUCT REVIEW 2020
Scottish Provident now rebranded as Royal London Life Insurance products are still competitive in their marketplace with their Menu Protection product offering the opportunity to combine several types of cover via the one Provider.
MORTGAGE PROTECTION - Decreasing Mortgage Protection
Designed to cover a repayment mortgage on death or critical illness 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.
LIFE INSURANCE - Level Term Insurance
Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term.
OVER 50'S LIFECOVER
A no medical evidence insurance policy to always payout whenever death may occur perhaps for funeral costs - but only after an initial period.
SCOTTISH PROVIDENT CRITICAL ILLNESS COVER
Helps ease financial worries if you or your children are diagnosed with a critical illness as specified by Scottish Provident - Royal London Insurance.
INCOME PROTECTION - PHI Cover
Providing security by way of an income if you are off sick or have an accident or disability.
Offering company protection for a key person, share protection or an employee dies, is diagnosed with a critical or terminal illness during the term.
SCOTTISH PROVIDENT ENDOWMENT POLICY - Life or Critical Illness Cover
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: Scottish Provident Life Insurance ~ for more information visit www.scotprov.co.uk *
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