Direct Line stops selling life insurance

Life insurance

Insurance company Direct Line has pulled out of the life insurance market.

The company announced on its website it would stop selling life insurance policies and would not be accepting any new applications.

Existing policies remain in place in line with the terms and conditions of the individual policy.

A message on the company website said: "[Direct Line] is no longer accepting new applications for life insurance or life cover with critical illness. We apologise for any inconvenience this may cause."

No solution

Paul Cowman, spokesperson for Royal Bank of Scotland, the parent company of Direct Line, says: "Following a strategic review of Direct Line Life, we identified that it needed considerable investment to improve its infrastructure.

"We explored a number of options to address the future of the business, but unfortunately none of them provided a viable solution that would benefit our colleagues, customers and stakeholders."

Existing customers who would like more information about their policies can contact the company through its website or on 0845 246 8123.

Direct Line will continue to sell a host of other insurance policies including, car, travel, home, pet and breakdown cover.

Compare life insurance quotes

More about