Recurring Payment Policy
If your plan is paid for by payment in full the money paid to Ready4Retirement for your plan will be used to purchase a whole life insurance policy.
If payment is made by standard monthly payments a direct debit will be set up and a whole of life insurance policy purchased. If you do not maintain monthly payments, then the plan may be cancelled and no refund of any payments made given.
If payment is made by monthly payments a whole of life insurance policy will be purchased when the plan is fully paid. You can choose to make an early settlement and pay the outstanding balance within the 12-month period. There is no instalment charge for this payment method.
You are eligible to take out your plan if you are 18 years old or over or between 50 and 75 years old if the standard monthly payments option is selected at the start of the plan. There are no health questions or medical examination. The plan can have two plan holders if the payment in full method is selected or if the monthly payments method is selected and the plan is fully paid at time of need then the plan can cover first or second death. If the payment option of standard monthly payments is selected there is only one plan holder/life insured.
You have the right to cancel your plan and to receive a full refund with no obligation by contacting us in writing at Ready4Retirement, Caledonian House, 100 High Street, Irvine, North Ayrshire, KA12 0AX, or via email at firstname.lastname@example.org, or by phone on 0800 6446121 within 28 days of the plan start date.
If you decide to cancel your plan after 28 days from the Plan start date, please contact us in writing at Ready4Retirement, Caledonian House, 100 High Street, Irvine, North Ayrshire, KA12 0AX, or via email at email@example.com, or by phone on 0800 6446121 and any monies paid less the Cancellation Fee will be refunded.
If any monies paid by you at the time of cancellation is less than the Cancellation Fee of £398.00 then we may ask for any difference to be paid by you to us if the plan is cancelled out with the 28-day cancellation period.
If the plan is paid by standard monthly payments and is cancelled, then no money will be refunded.