London Life - How to - Identify which type of policy you have

Identify which type of policy you have

If you are unsure about which type of policy you have with us, you can find out by entering your policy number in the box below. You can find your policy number on your policy schedule or on other correspondence from us.

Please wait while our policy identifier loads...

The policy number you have entered is incorrect. The policy number should be 8 characters long with the first and last character being alphabetic and the other characters being a mixture of alphabetic and numeric characters and spaces.

Please note: The policy identifier could take up to 2 minutes to load on a 56k modem. A text box will appear above when the application has loaded.

Result: The policy number you have entered is most likely to be a Pension policy. This is a tax efficient way to save for your retirement. When you retire you get a fixed lump sum. At least 75% of this has to be used to buy an annuity to give you an income for the rest of your life.

Result: The policy number you have entered is most likely to be an Annuity policy. This is a regular income for a fixed number of years - or for the rest of your life - produced by investing a lump sum from the proceeds of a pension policy when you retire.

Result: The policy number you have entered is most likely to be a Whole of Life policy. This is type of Life Assurance policy that you pay premiums into for the whole of your life, and which pays out whenever you die. Some whole-of-life policies also build up a cash value through the addition of annual bonuses (when declared), so it can be used as an investment by your beneficiaries.

Result: The policy number you have entered is most likely to be a Permanent Health Insurance (PHI) policy. This is a type of insurance which pays you an income if you become ill for a long period, or become disabled and can't work.

Result: The policy number you have entered is most likely to be an Endowment policy. An endowment policy is a life assurance policy which also helps you save. It pays you a fixed amount, known as the sum assured. It also includes any bonuses that may have been added on a set date or if you die before that date. Endowments linked to mortgages are used to pay off an interest-only mortgage at the end of its term, but they cannot guarantee to do this.

Result: The policy number you have entered is most likely to be a Term Assurance policy. This is a life assurance policy which will pay out a sum upon death, but this is only taken for a set time period. For example, cover for only five or ten years.

Result: The policy number you have entered has not been recognised. Please check that you have entered the correct policy number, and refer to your policy document if neccesary.