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WOOLWICH LIFE INSURANCE
The Woolwich plc is a former building society, converting to bank status in 1997 & going public on the London stock exchange. In the past, Woolwich Life insurance policies were sold as their own life insurance products mainly to their customer base. They were also tied to Royal Sun Alliance for endowment sales in late 80's before it stopped selling endowment mortgages as the market moved from endowment to repayment mortgages.
In 2000, Barclays Life and Woolwich Life operations merged when the bank bought the Woolwich BS. In 2001 however Barclays Financial Services announced that it would close its life insurance division. The bank, whilst maintaining Woolwich Life existing policies, would then divert new life assurance business instead to a tie up with Legal and General.
In 2006 Woolwich announced a tie up with Standard Life to sell certain pension term life policies under the Barclays brand. In 2008 Swiss Re, the world's largest reinsurer, agreed to buy Barclays Life, for £753 million.
From 2020, Woolwich Barclays mainly sells across their branch networks to their new mortgage and existing customer base. Although plans are currently insured via Legal & General - before this they used Aviva.
WOOLWICH LIFE INSURANCE - PRODUCT REVIEW
Although some Woolwich Life Insurance plans maybe no longer available for new protection business, you maybe able to amend or adjust your existing policy by contacting either Woolwich or Independant Broker.
MORTGAGE PROTECTION - Decreasing Mortgage Cover
Designed to cover a repayment mortgage on death or critical illness as it decreases during the plan term
LIFE INSURANCE - Level Term Insurance
Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term
WHOLE LIFE COVER
A whole of life policy that will always payout whenever death may occur. Premiums maybe reviewable in the future.
CRITICAL ILLNESS - Level Term or Decreasing Cover
Helps ease financial worries if you or your children are diagnosed with a critical illness as specified by Woolwich Insurance.
INCOME PROTECTION - PHI Cover
Providing security by way of an income if you are off sick or have an accident or disability as specified by Barclays Woolwich Insurance.
WOOLWICH ENDOWMENT POLICY
Designed to cover an interest only type mortgage. May provide a lump sum on death, critical illness or maturity during the plan term.
Compare Woolwich Life Insurance against other Insurers |
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Article on: Woolwich Life Insurance ~ for more information visit www.woolwich.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
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Woolwich Life Insurance Company Review 2020
Woolwich
Life Insurance
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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. 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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