If you cancel within 30 days of the date you received a document called your policy schedule, we’ll refund any monthly payments that you have made. You can cancel after 30 days has passed, but you won’t get any refund.

Your cover doesn’t rise over time

You can only increase the level of your Payout or monthly payments by taking out extra policies with us. If you’re accepted for an additional policy, the policy will be subject to the terms and conditions applicable at that time.The most we’ll pay out across all Co-op Over 50 Life Insurance policies you hold is £10,000. We’ll change or cancel policies if they would break this limit.

After each payment holiday you will have the option to make up all the missed payments, otherwise we’ll reduce your Payout by the amount of missed payments against the total payments you make for your policy during the Payout term.

age and whether or not you smoke.

If less than half the payments have been made between the start of your policy and your Final Payment Date, we’ll cancel your policy. You won’t get any payments back and you’ll no longer qualify for a Payout when you die.If more than half the payments have been made between the start of your policy and your Final Payment Date, your policy will still qualify for a Payout when you die, under our Payout Promise feature.

f you miss a payment and don’t pay it back within 60 days, our next step will depend on how long the payments have been made for

If you’d like to take a break of up to 6 months f

You can only take up to 2 payment holidays and these must be at least 12 months apart.

You can reduce the monthly payments to as little as £3.95 a month. But this will reduce the amount that we pay out when you die. If you already pay £3.95 or less, you cannot reduce the monthly payments further.

The Royal London Mutual Insurance Society Limited