Reliance Mutual Insurance Society has bought University Life Assurance from Equitable Life. It is hoped that by removing the costs associated with the running of University Life, Equitable Life policyholders will also benefit.
Reliance Mutual expects University Life policyholders to benefit as well, as they have a considerable amount of experience in the administration of small closed life funds.
Our view
We do hope this is better news for all policyholders concerned although we do not expect ‘life changing’ amendments to charges to any policies.