Reliance Mutual enters 'Over 50s' life market

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Online quotes for this simple and straightforward cover are available at http://www.reliancemutual.co.uk/.

“There are no ‘free’ promotional gifts on application, which always have to be paid for somewhere, as we prefer to give the maximum value within the product itself."

Reliance Mutual Insurance Society Limited (Reliance Mutual) has entered the ‘Over 50s life assurance’ market with a direct offering to the consumer. Online quotes for this simple and straightforward cover are available at http://www.reliancemutual.co.uk/.

The new plan provides:

  •     Guaranteed cash lump sum when you die two or more years after starting the cover, or a full refund of premiums paid if you die within the two years
  •     Choice of cover up to £20,000 and choice of how much you pay, starting at £10 a month and this will be a fixed monthly premium for the life of the policy
  •     Guaranteed acceptance if a UK resident and aged between 50 and 74
  •     No medical questions, no fuss.

Premiums are payable until age 90, but cover continues after this age. However, if premiums should be stopped before the 90th birthday, cover will also stop and you won’t get anything back.

Clive Allison, Reliance Mutual’s Head of Member Recruitment said, “Our Over 50s plan is very straightforward, it will pay a cash sum when you die. We have designed the website to provide a no fuss journey and it includes an easy to use cover calculator which uses a person’s age and has a simple quote slider to highlight the monthly cost for different levels of cover.

“There are no ‘free’ promotional gifts on application, which always have to be paid for somewhere, as we prefer to give the maximum value within the product itself. The monies paid can be used for any purpose and there will be many different reasons why people start a plan like this. It could be to provide a valuable nest egg for someone special, pay off unpaid bills, or go towards paying the funeral expenses.”

Quotes are also available by phone on 0808 168 5354.

ENDS

Reliance Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Note to Editors

Reliance Mutual is a long established life assurance and pensions provider, having started life in 1911. As the name suggests, it is a mutual society, meaning that it is owned by its member policyholders – there are no shareholders.

Reliance Mutual is committed to the ethos of mutuality and today looks after over £1.6bn and over 200,000 policies. It is committed to providing a quality service and products for customers and prides itself on a friendly and professional service. It has a small, highly professional team and all enquiries are handled by real, UK-based people.

Calls may be recorded for training and monitoring purposes.

The Reliance Mutual Group includes: Reliance Mutual Insurance Society Limited – Registered No. 491580, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority; Reliance Unit Managers Limited - Registered No. 724451, authorised and regulated by the Financial Conduct Authority and Reliance Administration Services Limited – Registered No. 3710407, authorised and regulated by the Financial Conduct Authority. All are registered in England at Reliance House, 6 Vale Avenue, Tunbridge Wells, Kent TN1 1RG.

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Martin Wood
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