When it comes to securing your family’s future, RBS Life Insurance is one of the smartest financial decisions. If you’re banking with Royal Bank of Scotland (RBS) you may be considering their life insurance plans. In this 2025 guide, we break down everything you need to know about Royal Bank of Scotland Life Insurance _ including its features, benefits, and whether it’s worth choosing Over independent providers.
In 2025, buying life insurance from a large and trusted financial institution like the Royal Bank of Scotland (RBS) will be a natural choice for many people. When you think about protecting your family’s financial future, choosing a lender you know and trust is a convenient option. RBS Life Insurance aims to protect you and your loved ones from financial shocks caused by unexpected events, whether they be mortgage payments, everyday expenses or future needs. Their plans are designed to provide your family with financial stability even in your absence.
In this comprehensive 2025 guide, we will take an in-depth look at Royal Bank of Scotland’s life insurance offerings. We will look in detail at not only their key features and benefits, but also the different policy options, eligibility criteria and their costs. We will also consider how RBS life insurance plans compare to independent providers and whether they are the best option for your needs.
✅ Who offers RBS Life Insurance?
RBS does not directly underwrite its own life insurance policies. Instead, they partner with Legal & General, one of the UK’s leading insurance providers, to offer a range of life cover options through their platform.
Topics of RBS Life Insurance
✅ Types of Life Insurance offered by RBS
🟢 1. Level Term Life Insurance
Fixed payout if you pass away during the policy term
Premiums remain the same
Ideal for protecting mortgages or income
🟢 2. Decreasing Term Insurance
Payout reduces over time (matches mortgage repayment)
Lower monthly premiums
Suitable for repayment mortgage cover
🟢 3. Critical Illness Cover (Add-on)
Lump sum if diagnosed with a listed critical illness
Can be added to either policy type
Useful for financial support during illness
✅ Key Features of RBS Life Insurance
Backed by Legal & General (trusted UK provider)
Flexible cover amounts and terms
Optional critical illness cover
Online application and support
Joint policies available
✅ Pros and Cons
Pros and Cons
Trusted brand & Legal & General partnership Not the cheapest in the market
Simple online quote & apply Limited to one insurer (L&G)Critical illness add-on available No cashback or rewards
Joint policy option Basic features only
✅ Who Should Consider RBS Life Insurance?
Existing RBS customers who prefer managing insurance through their bank
People who want the backing of a major insurer (L&G)
Those looking for standard, straightforward life insurance options
Individuals seeking joint cover or critical illness add-on
✅ Alternatives to Consider
Cavendish Life Insurance (lower fees, more provider choices)
SunLife or Royal London (Over 50s plans)
Comparison websites like Compare
TheMarket or MoneySuperMarket for broader options
❓FAQs- Royal Bank Life Insurance
Q1. What is RBS Life Insurance, and is it available directly from RBS?
RBS Life Insurance is a term insurance product offered by the Royal Bank of Scotland. Often, large banks such as RBS do not provide insurance products directly but work in partnership with a large insurer (such as Aegon, Legal & General, or Aviva). When you buy life insurance from RBS, one of these partners is the underwriter of the policy, while payments and customer service are handled by RBS.
Q2. Who is eligible for RBS Life Insurance?
Generally, eligibility for RBS Life Insurance depends on your age, health and lifestyle. Your age should be between 18 and 74 years. When you apply, you have to answer some health-related questions, such as whether you have any serious illness. Your job and lifestyle also matter. Your eligibility and premium are decided on the basis of such information.
Q3. Can I cover more than one person with RBS Life Insurance?
Yes, you can take a joint life insurance policy through RBS. This policy covers two people, like a husband and wife or business partners. The policy payout happens when one of them dies. After this the policy ends. If you want to give separate cover to both of them, you can take two separate single life insurance policies.
Q4. If I am not a customer of RBS, can I get their life insurance?
Yes, it is not necessary to have a bank account with RBS to get their life insurance. RBS life insurance policies are generally available to all UK residents, whether they are their existing customers or not. This allows you to easily compare their products and if you like their deal, you can apply.
Q5. How are the premiums of RBS Life Insurance policy decided?
RBS Life Insurance policy premiums depend on many factors. First of all, your age is a big factor – the younger you are when you buy the policy, the lower are the premiums. Another important factor is your health; if you have any pre-existing disease or you smoke, the premiums can increase. Apart from this, the amount of cover you choose (the amount of money you want insurance for), and the duration you want the cover for (policy term) also affects the premiums. The type of policy (such as level term or decreasing term) also affects the premiums.