Real Life Cover has been designed with Lifesearch and combines seven protection covers, including life and income protection, with an option of unemployment insurance.
YourLife Plan is a flexible menu protection plan providing a choice of term insurance, family income benefit, critical-illness cover and income protection.
Asda, Fortis and Lifesearch have teamed up to make RLC available to Asda customers.
RLC originated from a Lifesearch project in 2004 to find an alternative to income protection. In 2006, Lifesearch managing director Tom Baigrie began presenting his idea to providers and in late 2006, Fortis agreed to bring the concept to market.
RLC is made up of two pots of money – the life fund and the living fund.
If the policyholder dies or is diagnosed with a terminal illness during the term of the policy, the life fund will pay out a lump sum.
The living fund has four elements – income cover, critical-illness cover, child and partner carer’s cover and recuperation cover. The client can make as many claims as they want as long as there is still money in the fund. The life fund is not affected by claims made on the living fund.
If the claim does not meet the definition for CI, the income claim will pay out if the claimant cannot work.
Baigrie says: “RLC provides more effective protection against almost every eventuality that can destroy your finances. Everyone who does not already have full disability and life benefits should consider RLC, it is easy to follow and is built to be failsafe and clear.”
Highclere Financial Services partner Alan Lakey says: “Over the years, plans have not evolved to suit the needs of clients. However, Fortis has designed a product that meets today’s needs in a number of ways.”