Rbs Life Insurance Review 2025
Defaqto ratings are independent assessments that help consumers understand the quality of financial products.
Decreasing Term: In contrast to level term, the payout in a decreasing term policy reduces over time.
Defaqto ratings are independent assessments that help consumers understand the quality of financial products.
Decreasing Term: In contrast to level term, the payout in a decreasing term policy reduces over time.
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Defaqto ratings are independent assessments that help consumers understand the quality of financial products. They use a star rating system from 1 to 5, with 5 stars indicating the highest quality policies. These ratings are based on policy features and comprehensiveness, not price.
As of March 7, 2025, Royal Bank of Scotland’s life insurance offerings have received updated Defaqto ratings. Their direct life insurance has achieved a strong 5-star rating, indicating a comprehensive and high-quality product. For critical illness cover combined with direct life insurance and over 50s life assurance, RBS scores a solid 4 stars. However, their level term, decreasing term life insurance, and critical illness plans (level term and decreasing) are rated at 3 stars.
Compared to competitors, Aviva and Legal & General demonstrate a broader range of 5-star rated products across various life insurance and critical illness categories. Zurich also holds numerous 5-star ratings, particularly in critical illness and whole of life cover. While RBS performs well in direct life insurance, its 3-star ratings in other key areas suggest that consumers seeking the most comprehensive cover in level or decreasing term policies might find stronger offerings elsewhere. These ratings highlight that RBS provides robust direct life insurance options, but it’s worth comparing against the market leaders for specific needs like term life or critical illness policies.
RBS offers a range of life insurance policies to suit various needs.
RBS offers a range of life insurance policies to suit various needs. Below is an overview of the primary options:
Level Term: This life insurance option ensures your payout remains consistent throughout the coverage period. It is particularly suitable for covering interest-only mortgages and providing a substantial inheritance for beneficiaries. Premiums for this policy also remain constant throughout the term.
Decreasing Term: In contrast to level term, the payout in a decreasing term policy reduces over time. This makes it ideal for covering repayment mortgages or other debts that decrease over time. A key advantage of this policy is that the premium also decreases over time.
Increasing Insurance: This insurance option, not commonly offered by many companies, allows your coverage amount to increase in line with the Retail Prices Index, with a maximum annual cap of 10%.
Life Insurance with Critical 3: This option combines standard life insurance cover with Critical 3 serious illness cover. It provides a payout upon death, diagnosis of a terminal illness with a life expectancy of less than 12 months, or diagnosis of one of three critical illnesses: cancer, heart attack, or stroke.
Guaranteed Sixty-Plus Life Insurance: This guaranteed life insurance option is designed for applicants aged between 60 and 80 years.
We compare plans from the leading life insurance providers
RBS life insurance policies come with several features and benefits that are important to consider when making your decision.
| Cover Options | Level Term. Decreasing Term. Increasing Term. |
| Cover Period | Between 3 to 70 years. |
| Critical Illness Cover | Available through AIG’s Critical 3 add-on. |
| Maximum Applicant Age | Life insurance: 86. Life Insurance with Critical 3: 75. Sixty-Plus: 80. |
| Minimum Entry Age | 17. |
| Whole of Life Policy | Not available. |
| Joint Life Policy | Both single and joint life policies are available. |
Once your insurance contract is in place, you have the option to cancel it or decrease the coverage amount and policy term. However, you cannot increase the coverage amount or extend the policy term. You can also convert a joint life policy into a single policy or two individual policies.
RBS provides AIG’s Guaranteed Sixty-Plus Life Insurance policy for individuals aged 60 to 80. The advantages of this policy include:
It’s important to note that the following ratings may be outdated as ratings can change over time.
Fairer Finance: Awarded RBS a 2-star rating for its Guaranteed Sixty-Plus Life Insurance policy.
Defaqto: According to the latest Defaqto ratings as of March 7, 2025:
Life insurance premiums are variable and are influenced by factors such as your age, occupation, medical history, health status, smoking habits, and desired level of coverage. For illustrative purposes, consider the examples below, but please note that these are examples and current premiums may vary:
Please remember that these examples do not include the additional cost of Critical 3 cover.
Royal Bank of Scotland’s life insurance products offer a range of benefits and advantages. Access to AIG’s Smart Health tool is a valuable resource for managing your health and wellbeing, providing 24/7 GP access.
The bank provides considerable flexibility regarding the maximum entry age, which at 86, is higher than many other insurance providers, who often set limits between 64 and 70 years old. The Guaranteed Sixty-Plus Life Insurance policy, now with a 4-star Defaqto rating, remains a noteworthy option. The full coverage after two years enhances its value, and the option of a joint life policy can be beneficial for couples.
One potential drawback is that Critical 3 insurance does not automatically include child cover, which may be a significant consideration for those needing to cover their children. Some other companies offer this at no extra cost with their critical illness cover add-ons.
| Type | Plan name | Rating |
|---|---|---|
| Critical illness (decreasing) | AIG Critical 3 With Life Insurance | 3 |
| Critical illness (level term) | AIG Critical 3 With Life Assurance | 3 |
| Critical illness (direct with life cover) | AIG Critical 3 With Life Assurance | 4 |
| Life assurance (direct) | AIG Critical 3 With Life Assurance | 5 |
| Life assurance (direct) | AIG Life Insurance | 5 |
| Life assurance (decreasing) | AIG Life Insurance | 3 |
| Life assurance (level term) | AIG Life Insurance | 3 |
| Over 50s life assurance | Guaranteed Sixty-Plus Life Insurance (Fixed) | 4 |
| Over 50s life assurance | Guaranteed Sixty-Plus Life Insurance (Increasing) | 4 |
