Royal London adds beneficiary nomination to Whole of Life cover

The provider stated the option provides a "simpler alternative" to writing plans in trust, allowing applicants and policyholders to nominate who receives a pay out if a claim is processed upon death. Applicants can nominate a beneficiary as part of the application process or change the nomination at any point, although Royal London counselled that for complicated beneficiary requirements customers should still consider setting up a trust. The feature was implemented on Royal London Personal Menu Plans for individual life cover and life or critical Illness cover in 2020. Jennifer Gi...