Family Protection Plan FAQs

The insurer, Maiden Life, has decided to stop offering life insurance in the UK and is closing the Family Protection Plan as part of that process. This affects all credit unions offering the plan, not just London Mutual.

Our priority is now working to help members understand what this means for them, and to ensure they understand their options.

The Family Protection Plan is a life insurance policy, not a savings product. Your payments were used to provide insurance protection, not to build up savings or a cash balance.

Over the years, the Family Protection Plan worked as intended, providing vital support to hundreds of families. More than 99.9% of claims were accepted and paid, and across all participating members, the total amount paid out in benefits was roughly equal to the total premiums paid in.

We recognise that this will be of little comfort to those who have not needed to make a claim, but it does show that the plan provided genuine protection and peace of mind to members and their families.

We’ll continue collecting payments until the plan ends on 30 November 2025. No payments will be taken after that date, and we will contact you via text when the last premium is debited from your account.

If you decide to cancel earlier, please let us know — but remember that cancelling means your cover will end immediately and you will no longer be protected.

Yes. If a death occurs on or before 30 November 2025, you can still make a claim for up to two years afterwards (until 30 November 2027).

The claims process will stay the same. You can contact either London Mutual or CMutual for help with making a claim.

We and CMutual are exploring possible replacement products for credit union members. However, no alternative cover will be available before 30 November 2025.

If new options do become available, we will contact affected members directly.

If life cover is important to you and your family, you may want to put in place new arrangements before the plan ends to avoid any gap in cover.

You can find free, impartial guidance about choosing life insurance on the UK government-backed Money Helper website

Please be aware that we are not authorised to give financial advice. This includes recommending specific products or companies.