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The table below - John's story - is designed to demonstrate how differently things might turn out for someone who has Real Life Cover instead of just life insurance.
| Ordinary Life Insurance | Real Life Cover | |
|---|---|---|
| John takes out £250,000 of Real Life Cover or ordinary life insurance | John has £250,000 of life cover | John has £250,000 of life cover and a £250,000 Living Fund |
| At 42 John develops cancer | He can't claim anything | His Living Fund pays him a lump sum of £30,000 - 12% of his sum assured |
| He has to take 8 months off work to recover | John can't claim anything and needs to keep paying his premiums | After 2 months off work his Living Fund pays him £2,500 a month - 1% of his sum assured. We pay his premiums until he returns to work |
| John has a car accident and has to take time off work | He can't claim anything and still needs to pay his premiums | After 2 months his Living Fund pays him £2,500 a month - 1% of his sum assured. He gets this for 7 months. Until he returns to work, we pay his premiums |
| John's doctor recommends specialist physiotherapy | John has to wait for physiotherapy. So it's 6 months until he's back to work | His Living Fund pays £2,500 for physio. He could have had up to £7,500 - 3% of his sum assured. He's back to work in 3 months |
| John has a severe stroke | He can't claim anything | His Living Fund pays him a lump sum of £30,000 - 12% of his sum assured |
| Since his stroke John has been unable to work | John can't claim anything and still has to pay his premiums | After 2 months, his Living Fund starts paying him £2,500 a month. There is £155,000 in his Fund, enough for 5 years and 2 months of payments |
| John dies | His insurer pays his family £250,000 | Even though his Living Fund had run out, we continued to pay his premiums - so we pay his family £250,000 life insurance |
| With ordinary life insurance John's family have received £250,000. | With Real Life Cover John and his family have received £500,000 plus 75 months worth of premiums paid. |