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Important Policyholder Information

Customer Guide to the Over 50s Plan

The Reliance Mutual Over 50s Plan is no longer available for new customers, however for our existing Over 50s Plan policyholders, it continues to provide important protection and peace of mind.

Here’s a reminder of how the plan works and its benefits.

  • The plan pays out a cash lump sum to your loved ones when you die 2 or more years after cover was started.

  • It could help cover the cost of your funeral, pay off bills or other expenses – or even provide a nest egg for your partner or grandchildren.

  • Premiums are fixed and never go up and cover continues throughout life but you stop paying at age 90.

  • Customers should remember that if you stop paying premiums before you're 90, cover stops and you won't get anything back.

  • If you die in the first two years, you won't receive the cash lump sum (unless your death is a result of a fatal accident), but your premiums will be returned.

  • This is a life insurance policy and not a savings plan and is only payable when you die.

  • Your cover is fixed at the start, so inflation means it will buy less in the future.

  • The cash payout normally goes to your estate. Inheritance tax could apply and financial support on bereavement may be available from the State. find out more

 

Get in touch

If you need any information about your policy or need to make a claim, just call our Customer Service Team on:

0808 168 5354

Our lines are open Monday to Friday 9am - 5pm

Calls may be recorded for training and monitoring purposes.

Your questions

Find the answers to the most frequently asked questions

Go to FAQs