Ulster Bank Life Insurance

Ulster Bank Life Insurance. Fact! If you don't compare them against the market now it could cost you £1000's. Compare the whole life insurance market.

Ulster Bank Life Insurance

Ulster Bank is a large retail and commercial bank, which is one of the big four banks in Northern Ireland the Republic of Ireland.

Ulster Bank offer a range of insurance products including Over 50s Cover which can protect you and your family financially if the worst was to happen. They are also part of the wider Royal Bank of Scotland group who offer level term life insurance, decreasing term life insurance and critical illness cover.

They are well recognized as a very huge commercial bank that was founded in Ireland some 174 years ago and since then the bank is serving it's large number of customers.

The Ulster bank is a subsidiary of the Royal Bank of Scotland group and this is the largest bank operating in Belfast, which is where the headquarters are located. They offer a lot more than only life insurance policies as the bank also offers home insurance, travel insurance and car insurance on top of their bread and butter banking operations. This is considered as one of the best banks for businesses in Northern Ireland, and has one a number of industry awards for customer service. They have continued to grow for over 35 years and have launched many innovative financial products that are competitively priced.

History

The bank can be dated back to 1836 and is still one of only four banks in Northern Ireland that is able to print its own banknotes. It has the right to print its own notes of 5, 10, 20 and 50 pounds. It has been estimated that in 2007 the total number of employees exceeded 6,400. Ulster bank has about 100 branches in Northern Ireland and the logo is similar in design to the Royal Bank of Scotland who changed the logo from the old National Westminster one in 2005. After the fallout of the recent financial crisis they bank is largely owned by the taxpayer which effectively makes it government owned as over 80% of shares are controlled by the UK.

Types of life cover

Over 50 cover is the main type of life insurance offered, however other types are offered by their larger partner RBS.

The over 50 Cover offered is available for those aged 50-75 and a UK resident. Over 50 life insurance has increased in popularity over the last few years and is offered by a number of insurance companies and banks. Over 50 cover is different from the other covers offered in the market due to the features like this has a prompt guaranteed acceptance, which means there will not be a medical or an intrusive medical background check. This has a sizeable payout and should be affordable for almost all customers as it's as low as £10 per month. The premiums are guaranteed not to rise over the term of the policy which means you can forecast the future payments and know that you’ll always be able to afford it.

Review

Ulster bank is a well-respected bank and the consensus appears to be good for their customer service. They understand protection products and have one awards for their life insurance policies. You can see ratings on review centre site about the company and different services that they offer; you can also post your experiences too to help other customers buy life cover.