Reassure Life Insurance Review 2025

ReAssure, part of Phoenix Group, is a UK life insurance and pensions company founded in 1963. The firm specialises in life insurance closed blocks and manages approximately 3 million policies and around £70 billion worth of investments.

This article explores the company’s life insurance products and explains how ReAssure’s business operates.

Life insurance products offered by ReAssure

ReAssure offers various types of life insurance policies. Over the years, the company has integrated life insurance blocks from multiple insurance providers, such as Barclays, Legal & General, and HSBC. Your policy might be managed by ReAssure even if you did not initially take out a policy through them. Make sure to check if your policy has been part of a closed block of policies acquired by ReAssure.

Whole of Life Policies

• Whole of Life – These policies provide cover until you pass away, regardless of when it happens. As a result, whole of life policies tend to be more expensive due to the guaranteed payout.
• Term Life – Unlike whole of life policies, term life policies only cover you for a predetermined period. This is further divided into two categories: level term and decreasing term. The main difference is that the payout for a level term policy remains constant throughout the term, while the payout for a decreasing term policy reduces over time. The monthly premium for a decreasing term policy also decreases over the insured period.

In addition to these standard life insurance policies, ReAssure offers specialised investment products that serve different functions, such as:

• Unit-linked Whole of Life: In these policies, your monthly premium buys units in various investments. The value of these units can fluctuate, but they can generally be used to cover the cost of your life cover in later life.
• With-profits Whole of Life: In these policies, your monthly premiums are invested in a with-profits fund, and bonuses may be added to your policy depending on fund performance.
• ReAssure Lifelong Protection Plan: This product is a standard whole of life policy that pays a lump sum upon death or diagnosis of a terminal illness. It may also pay out upon diagnosis of a critical illness.

Note that the company offers other variations of its investment life policies. You can change your investment policy type; contact ReAssure to discuss your options.

Term Life Policies

As previously mentioned, ReAssure offers level and decreasing term policies. In addition to these, the company provides:

• Renewable term assurance: This is a standard level term policy with the option to renew it at the end of the term, regardless of your health condition at that time.
• Index-linked term assurance: In these policies, the coverage amount is linked to increases in an index, such as the Retail Price Index.
• Unit-linked term assurance: In these policies, your monthly premium buys units in investments. The returns from these investments cover the monthly life risk, and any overperformance may be paid to you in cash.

Why do insurance providers sell blocks of business to ReAssure?

A closed block of business (in this case, life insurance policies) can become a substantial financial burden for life insurance providers. Closed blocks can arise when a life insurance product is discontinued or through policies acquired via mergers or acquisitions.

Either way, many insurance companies seek buyers to offload these policies that are no longer actively sold to reduce their financial burden. Some companies keep these blocks in-house and outsource management to a specialist company. However, some companies choose to sell to ReAssure. This can be an attractive option as insurance providers know the policies are transferred to a reputable company known for good customer service.

Features and Benefits of ReAssure life insurance

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There are many benefits to ReAssure life insurance that make it stand out among other insurance providers. Here are some key advantages:

• ReAssure offers opportunities to invest alongside life insurance coverage.
• ReAssure has an extensive policy portfolio and regularly acquires closed blocks from major industry players.
• ReAssure provides a wide selection of policy options.
• Policyholders can switch to a different investment-linked life insurance policy if their needs change.

ReAssure life insurance ratings

ReAssure has over 6,355 reviews on Trustpilot, with an average rating of 4.1 out of 5. Millions of policyholders trust the company, and it has the backing of the Phoenix Group.

How to check if your life insurance policy is with ReAssure?

As previously mentioned, ReAssure specialises in acquiring life insurance closed blocks from other UK insurance providers. So, it’s possible your policy is already managed by ReAssure. If you’re unsure, call their professional and helpful team to check your details.

Can you get a life insurance policy with ReAssure?

Currently, you cannot directly take out a new life insurance policy with ReAssure. To benefit from their products, your policy must have been part of a closed block of policies acquired by the company.

How much does ReAssure life insurance cost?

If ReAssure manages your life insurance policy, contact their team to get a quote. Various factors can affect your premium, such as age, smoking status, medical history, lifestyle, and occupation.

How to make a life insurance claim with ReAssure?

The contact point for making a claim with ReAssure depends on the original provider of your policy. If your policy was with Barclays, contact them on 0800 197 5616.

If your policy was with another life insurance provider, contact ReAssure on 0800 952 0355. ReAssure provides a bereavement guide which you can access here.