Maiden Life have notified us, via CMutual, of their decision to withdraw from the UK life insurance market. As a result, the Family Protection Plan will end on 30 November 2025.
The Family Protection Plan is a monthly renewable group policy, which means that from the outset it has always been possible for the insurer, London Mutual (as the group policyholder), or you (as the certificate holder) to end the policy by giving at least 30 days’ notice. In this case, the insurer has chosen to exercise that right and has given notice to end the policy.
Since becoming aware of this possibility earlier in the year, we have worked closely with CMutual and other affected credit unions to explore possible alternatives, including discussions with other insurers about offering a similar product. Unfortunately, these efforts have not been successful. Maiden Life have now confirmed that their decision is final and provided us with formal notice, which is why we are letting you know now.
What is happening and when
- We strongly recommend that you inform all family members who are named on your certificate about this change and the resulting loss of cover.
- You and family members named on the plan remain covered until midnight on 30 November 2025.
- You can make a claim for deaths that occur before that date for up to two years afterwards.
- You will not be covered for any deaths that occur after this date.
Arranging alternative cover
- Ahead of this end date, you should consider your own and your families’ needs, and seek to arrange alternative cover if you feel this is necessary.
- You can find free, impartial guidance about choosing life insurance on the government’s Money Helper website.
- If you are unsure about what cover would benefit you, you should get independent advice.
Comments
0 comments
Please sign in to leave a comment.