Transferring policies to Countrywide Assured
Everything you need to know.
We’ve agreed to transfer onshore individual protection policies to Countrywide Assured plc
This page provides you with key information relating to the transfer. We’ll keep this page updated when there are developments in the transfer process.
What’s happened so far:
- Following a review of our onshore individual protection business, we announced that we were no longer accepting applications from new Life Insurance or Life Insurance plus Critical Illness customers (Read our update)
- We have reached an agreement for Countrywide Assured plc, a subsidiary of Chesnara plc, to acquire our book of onshore individual protection customer policies
- Customers’ policies are expected to transfer to Countrywide Assured plc in early 2025, subject to the completion of a court-approved Part VII transfer. We’ll keep customers informed as the transfer progresses. This page will also be kept up to date with the latest news
- In the meantime, we’ll continue to support existing customers and pay claims in line with our usual processes. Information on how to make a claim can be found on our Life Insurance and Life Insurance plus Critical Illness
Timeline
May 2023
Agreement reached with Countrywide Assured plc that they will acquire our onshore individual protection customer policies.
June 2024
Directions Hearing taking place at the High Court. A normal part of a transfer process that gives us permission to mail customers with more information.
July 2024
Letters issued to customers providing more information on the transfer plans.
3rd February 2025
Sanctions Hearing at High Court. Please note this date may move, we’ll keep the timeline as up to date as possible.
23rd February 2025
The expected transfer date is 23rd February 2025 to Countrywide Assured plc, subject to the High Court approving the transfer.
After Transfer
Countrywide Assured plc send welcome letters to customers transferring from Canada Life after the transfer completes.
What should I do next?
If you don’t have any questions or concerns after reading this information, there is no need to take any further action in relation to the transfer. We suggest you keep these documents with your policy documents for future reference. If anyone else has an interest in your plan (for example, joint holders, assignees or trustees), please also make them aware of the proposed transfer as soon as possible.
If you would like to receive further information about the transfer or have any questions, please contact us.
Getting in touch
Call us 0345 300 3340 calls charged at local rate or +44 [0] 345 300 3340 from overseas, call charges may apply, please contact your network provider for more information.
By email csqueries@canadalife.co.uk
By post Canada Life Limited, Canada Life Place, Potters Bar, Hertfordshire EN6 5BA.
We’re happy to help if you need more support. Please let us know via phone or email if you’d like a document provided in an alternative format, such as Braille, large print or audio. If you can’t hear or speak on the phone, you can contact us via Relay UK by using your Relay app or dialling 18001 before our phone.
Supporting documents
The Customer Guide – Part VII transfer
The Policyholder letter example – Part VII transfer
The report of the Chief Actuary of Canada Life on the Impact of the Scheme
The Report of the Chief Actuary of Countrywide Assured on the Impact of the Scheme
The Report of the With-Profits Actuary of Countrywide Assured on the Impact of the Scheme
The summary report of the Independent Expert
The scheme document
The scheme summary