Churchill Life Insurance

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Churchill Life Insurance. Fact! If you don't compare them against the market now it could cost you £1000's. Compare the whole life insurance market.

The Churchill Insurance Company was set up in 1989 by Martin Long and was one of the first direct sales insurance companies in the UK. The company has no branch network or fleet of salesmen because they only sell direct via their call centres and on the internet.

Although they are more famous for offering car insurance and home insurance they do offer excellent protection plans including life cover. With life cover you can protect your family and loved ones if the unthinkable does happen. Could your family cope financially if you were suddenly no longer around to provide for them?

The company is still based in Kent in the South East but has had a number of different owners since being founded. One of the first employees left the company after a year and went to on set up the rival company Admiral Insurance.

The current owner is The Royal Bank of Scotland Group, which at the time of writing was itself 85% owned by HM Treasury. They were acquired for £1.1 billion when purchased from the Credit Suisse Group in 2003. Before the sale of the company to the Royal Bank of Scotland Group the firm was acutely criticised for the handling of it’s purchase of Prudential Insurance, when they planned to move 30,000 jobs to India to cut staffing costs. This idea was canned, but caused a lot of bad press that has not entirely been forgotten. It was of course avoided after the take over by RBS.

As Churchill only sells direct and not through an offline network, they have a significant advertising budget. They spend millions each year on television adverts, the star of whom is a British bulldog called Churchill. The dog was created after staff were asked to come up with a point of interest for their adverts which would detract from the Winston connection that the name congers up.

They began offering home insurance, but quickly went on to offer car and other vehicle insurance. They are most famous for offering car insurance and this continues to create the bulk of their revenues. However, they now offer a wide selection of protection products including a comprehensive range of life insurance.

They have won many awards in the last 5 years for customer satisfaction from Your Money, which are highly regarded in the finance industry. Awards include Best Online Motor Insurance Provider and Best Online Home and Contents Insurance Provider.

Life insurance is one of the newer financial products offered. At lifedeal we always say the first consideration is: Will the provider be around to pay out in the future? This is the main consideration and much more important than simply finding the lowest possible premium. The beauty of the take over by RBS means that you have a banking giant standing behind the smaller and younger insurance company. Even the fact that now the British tax payer effectively owns RBS adds an extra layer of security.

Types of life cover

The RBS Group of insurance companies offer a range of life insurance products.

Life Cover

This is probably what you think of when you hear the term ‘life insurance’. It will provide a tax-free lump sum payment to your loved ones and family to cover any debt or cost. You can choose if you want to add critical illness / serious illness cover to this at an extra expense.

Over 50s Cover

Guaranteed acceptance for those aged 50-75 in the UK. Over 50s cover can be expensive and the fact there is so much advertising for Over 50 plans in the UK highlights how profitable it is for the larger life insurers. Be sure to shop around, and because it is guaranteed acceptance might mean higher costs for those that are in good physical shape and do not smoke.

Income Protection Cover

Protection for long-term illness, sickness and of course accidental injury. The time when you are ill is the time that the income that protection such as this provides is most valuable. It is easy to put such things on the back-burner, but taking action now could save a lot of stress in the future – and probably costs less than you think.

Review

There is little in the way of life insurance reviews for Churchill on review centre. However, you can get a taste of their customer service proposition by looking at the reviews for other types of insurance such as car or home insurance. They reviews on the whole are not good, with many people having bad experiences of the call centres and long waiting times on the phone. If you have experienced Churchill life insurance feel free to leave a comment on the following link: Review

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