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Protection plus RSAIF equals whole life and cic

Royal & Sun Alliance International Financial Services has introduced protection plus, a protection plan designed for UK expatriates and other people living abroad.

Protection plus is available for single and regular premiums and allows policyholders to tailor the benefits to their needs.

There are two elements to the plan – whole life and critical illness cover. Policyholders can choose just one element of the plan or a combination of both. If expatriates already have life cover or critical illness cover, they can take out protection plus to add the type of cover they do not already have.

The critical illness element covers 23 conditions and the whole of life part has 80 fund links which also include funds from external managers such as Aberdeen, Henderson and Fidelity.

Scottish Provident International has a similar product called stratum. This also allows policyholders to choose whole life, critical illness cover or a combination of both. Like protection plus, stratum has waiver of premium and key event options, where the level of cover can be altered if the policyholder experiences a milestone event such as marriage or parenthood. However, the critical illness element of stratum is limited compared to protection choices as it covers 14 conditions.

A non-smoking male aged 31 next birthday, living in Andorra, near France, would pay £72 a month for standard critical illness cover only with protection plus and £100 a month with Stratum on a £100,000 sum assured.

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